eToro now offers trading of Tezos (XTZ) cryptocurrency

Tezos (XTZ), a crypto whose market value is nearly $1 billion, is eToro's latest cryptocurrency.

The eToro brokerage has been gung-ho about attracting as many crypto traders as possible. In early 2019, Gibraltar's regulatory agency granted a custom license to eToroX, eToro's crypto exchange platform.

In addition to Tezos, eToro's social trading platform clients can trade the underlying assets of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ethereum Classic, Dash, as well as Tron and a few lesser known cryptos. With Tezos, the total number of cryptos available at eToro total 15 cryptocurrencies.

Diversifying via more modern cryptocurrencies

Unlike other brokers, eToro also allows its clients to buy assets, with eToro acting as the custodian and holding digital parts on behalf of its traders.

In addition to trading real XTZs, the coin will most likely be added to eToro's CryptoPortfolio, which allows traders to diversify a portfolio with cryptos that have a market capitalization approaching $1 billion and an average monthly trading volume of $19 million.

Tezos has implemented an innovative structure in which developers own the code, but the $229 million raised by the ICO, which now stands at nearly $1 billion, is managed by an independent Swiss company.

However, the Tezos project and its founders face several class action lawsuits in the US. The plaintiffs accuse them of fraudulently marketing the sale of their coins as charitable and non-refundable contributions in order to avoid any governmental or private control.