Yoni Assia #31

Biography:

Yoni Assia is one of the earliest entrepreneurs to adopt crypto and blockchain technology. As the co-founder and CEO of Israeli multi-asset trading platform eToro, Assia pioneered Bitcoin trading back in 2013 and has since diversified the platform’s offerings with other popular cryptocurrencies. 

In the same year, Assia co-wrote the Colored Coins white paper with Ethereum co-founder Vitalik Buterin. Fast-forward to 2018, he embarked upon a philanthropic initiative with the launch of the GoodDollar foundation, a nonprofit protocol that aims to reduce the wage gap via crypto adoption for the unbanked and underprivileged. 

However, his vision to create a new economic framework dates back to 2008 when he first introduced the GoodDollar concept in the form of The Visible Hand white paper. Assia earned a master’s degree in computer science from Reichman University in Israel, has experience as a board member of investment firm Meitav Dash, and is co-founder and development manager of WiTech Communications and CDRide, a video technology company.

Assia’s 2021:

By the end of 2020, eToro recorded a 40% growth in total trading volume and a resultant cash inflow of $600 million. Supporting the ongoing adoption streak, in 2021, the platform onboarded 380,000 new users in just 11 days. By March, Assia announced plans to take eToro public via a $10.4 billion merger, but later backtracked, citing regulatory hurdles. 

Moreover, eToro’s Q2 report showed a 125% year-on-year surge in crypto trading volume, accounting for 73% of the company’s overall trading commissions. Halfway through the year, the multi-asset investment firm was able to commit $1 million for Assia’s GoodDollar initiative. 

In 2021, the platform announced the delisting of popular cryptocurrencies Cardano and Tron by 2022 due to regulatory concerns in the region. However, eToro stepped into the United Kingdom’s market with eToro Money, a wallet service for co-managing fiat and cryptocurrencies. The entrepreneur continues to be vocal about his support for mainstream Bitcoin and crypto adoption.

Assia’s 2022:

In addition to geographic expansion, Assia envisions that eToro’s future growth will heavily depend on compliance with local regulations and operational licenses. Subject to regulatory approvals, Assia also plans to take eToro public through an initial public offering. 

Assia predicts that retail investors will play a major role in fast-tracking crypto adoption. His company roadmap includes launching new tools to empower investors in exploring cryptocurrencies. The GoodDollar initiative expects to onboard 100 million people into the digital economy amid rising concerns about the global wage gap. 

In addition, eToro will expand its various existing offerings such as its DeFi portfolio, crypto debit cards and wallet services to catalyze the platform’s dominance across the globe.