eToro expands global reach, seeks regulatory license in Singapore amid plans for US IPO, eyeing strategic growth opportunities.
eToro forex broker has set its sights on Singapore as it navigates the regulatory landscape to secure a license in the bustling financial hub. With an application currently underway with the city-state regulator, this CySEC-regulated broker aims to solidify its global presence further and enhance its service offerings.
Despite being headquartered in Israel, eToro forex broker boasts a widespread presence across various jurisdictions, with regulatory compliance in countries such as the United Kingdom, Cyprus, France, Brazil, and the United Arab Emirates, among others.
The broker has positioned itself as a versatile multi-asset platform, offering trading services for stocks, cryptocurrencies, derivatives, and securities.
In light of its expansion efforts, this no-commission broker's move towards obtaining a regulatory license in Singapore aligns with the strategic trajectory of numerous crypto exchanges and brokers.
About eToro
Founded in 2007, this fast-execution broker initially gained recognition in the copy-trading space before diversifying its offerings to encompass a wide array of assets. With approximately 3 million accounts and over $11.3 billion in customer assets under management, this multi-asset broker stands as a formidable player in the brokerage industry.
Furthermore, eToro is exploring the possibility of a public listing, with the United States being a potential venue for its initial public offering. Despite generating the majority of its revenue in Europe, the company sees the US market as an attractive option due to its deep liquidity and widespread investor awareness.
While a previous attempt at going public through a reverse merger faltered, the company remains undeterred, considering a valuation exceeding $3.5 billion for its upcoming listing endeavour.
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