Israeli-based social trading platform eToro is expanding to the U.S. If all goes according to plan, U.S. citizens will be able to trade cryptocurrencies on the company’s platform sometime later this year.
The announcement, which eToro made today, May 15, 2018, at Consensus in New York City, comes on the heels of a $100 million funding round that eToro received in March 2018, bringing its total funding to $162 million. The company said at the time it would use the funds to expand into new markets.
eToro is a regulated global brokerage firm for trading cryptocurrencies, stocks, commodities, ETFs and more. Currently, the company has offices in Israel, throughout Europe and in the U.K. Now it is gearing up to launch in the U.S. American citizens will only be able to trade cryptocurrencies on eToro at first.
According eToro CEO and founder Yoni Assia, who spoke with Bitcoin Magazine, the company is currently in talks with U.S. financial institutions, regulators and regulatory advisors, and has already registered with the Financial Crimes Enforcement Network (FinCEN). The company is opening an office in New Jersey, says Assia.
“We believe we are going to see trillions of dollars moving into crypto and blockchain assets, and as we are one of the largest players in Europe and expanding to Asia as well; it seems logical to also have a significant footprint in the U.S,” he said.
The company is also aiming to launch a crypto wallet later this year. The digital wallet, which will enable users to hold multiple cryptocurrencies, will be available on the Apple App Store and Google Play Store.
About eToro
Founded in 2007, eToro now has over 10 million registered users trading more than 1,200 instruments, including Apple, Microsoft, Snap and Facebook, on the platform. The
