Co-founder and CEO of eToro, Yoni Assia, said:
The launch of a debit card is a natural next step for eToro as we broaden the range of services that we provide to our users… The debit card will provide instant cash-out and cash-in functionality, greatly improving the user experience. We expect to see a strong take-up of the card – initially from our client base.
eToro enables its customers to invest in stocks and commodities, as well as crypto assets like Bitcoin. The app is regulated by Cyprus Securities and Exchange Commission, the Financial Conduct Authority in the UK and the Australian Securities and Investments Commission.
Mahmood Kamran, managing director of eToro Money, commented:
We are incredibly excited to become part of the eToro Group. The backing of this leading global fintech will allow us to issue a debit card which we are confident will become a market leader globally.
After eToro’s competitor delayed its launch “indefinitely”, eToro is racing to build its UK user base before the release of US investment platform.
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