Bank of Spain Approved eToro As Virtual Asset Exchange

The registration of eToro as a service provider of exchange of virtual currency for fiat currency and electronic wallet custody services has been approved by the Bank of Spain.

The online trading platform was valued at $3.5 billion earlier this year, and it has teamed up with Twitter to expand the financial and payment capabilities of the market leader in social media. Additionally, eToro revealed yesterday that it has developed a passive investor portfolio that consists only of shares in 40 top fintech companies.

Iberia and Latin America’s regional manager for eToro, Tali Salomon, stated:

“This registration is a testament to our commitment to operating a growing business which prioritises consumer protection while also nurturing innovation and ensuring access for individual investors. As a multi-asset platform which has been a long standing supporter of crypto and blockchain technology, we are proud to have received this registration from the Bank of Spain. We will continue to empower our Spanish users by providing them with access to a diverse range of asset classes, investment tools and educational resources to enable them to grow their knowledge and wealth.”