International trading platform eToro has announced its acquisition of the popular Delta cryptocurrency portfolio tracker in a deal rumoured to be around $5 million.
In an official press release shared with Coin Rivet, eToro founder and CEO Yoni Assia commented on the acquisition:
“We are excited to announce that Delta will become part of the eToro Group. This is our second acquisition this year and reflects our commitment to continued growth and innovation. When we started eToro, our goal was to disrupt the world of trading.”
The acquisition is the latest move by eToro to expand into cryptocurrency markets. The trading platform has traditionally been open to exploring crypto assets, with a number of CFDs currently available to customers – including Bitcoin, Ethereum, and Cardano to name a few.
Recently, eToro has also launched a dedicated digital asset platform called ‘eToroX’, which as Coin Rivet reported in April is a secure and regulated platform allowing investors to trade fiat-backed stablecoins and six top cryptocurrencies.
Delta will continue to innovate
The Delta app is one of the most widely used portfolio trackers for cryptocurrency investors, tracking over 6,000 different digital assets from 180 exchanges. Delta boasts over 1.5 million downloads of its portfolio app.
The Delta team will now report to eToroX’s managing director, Doron Rosenblum, who said he was “thrilled to welcome Delta to the eToro family”.
The move signals the next stage of the Delta team’s journey, who will continue to be based in their Belgium office.
It’s unclear exactly what eToro’s plans are for Delta, though Rosenblum said the two teams will be exploring how Delta can be diversified and potentially allow eToroX customers to trade directly through the app.
Delta’s CEO Nicolas Van Hoorde said of the acquisition:
“This acquisition makes sense for Delta, eToro, and most importantly our respective users. There are strong synergies between the two companies and we have many shared values, in particular the focus on community and continuous innovation.”
The move expands eToro’s range of products at a time when other trading platforms are struggling to keep pace with the rapidly evolving digital asset markets.