Global investment platform eToro has achieved a significant milestone with its registration as a provider for crypto-fiat exchange and electronic wallet custody services in Spain. The Bank of Spain officially approved eToro’s registration on June 29, and eToro (Europe) Digital Assets Ltd. is now listed in the Virtual Asset Service Provider Register with code number D848.
Tali Salomon, eToro’s Regional Manager for Iberia and LatAm, expressed delight at the registration, emphasizing the company’s commitment to consumer protection, innovation, and accessibility for individual investors. eToro, known for its social investment and multi-asset brokerage services, has been a strong supporter of cryptocurrency and blockchain technology.
Founded in 2007, eToro boasts over 32 million registered users across more than 100 countries. The platform offers a collaborative investment community and educational resources, including tutorials and articles for traders of all levels and a virtual portfolio.
eToro’s offerings span both traditional and digital assets, with various investment options such as direct trade, portfolio investment, and copy trading. Recently, the platform delisted four cryptocurrencies for its US customers.
With eToro’s registration, the Bank of Spain now has a roster of 81 companies authorized to provide virtual asset services. Other notable crypto platforms that have obtained the Virtual Asset Service Provider (VASP) license in Spain include Binance, Bit2Me, and, more recently, Crypto.com.
As the Spanish regulatory landscape evolves, the country has shown interest in exploring Central Bank Digital Currencies (CBDCs). The Central Bank of Spain announced plans for an experimental program to explore a wholesale CBDC at the end of last year. As eToro expands its presence in Spain, the financial industry’s interest in digital assets continues to grow.