eToro It could become the latest in a string of fintech companies entering the banking space.
The trading and investment platform is considering multiple acquisitions, and also plans to expand into traditional payment services which may include applying for a banking license, CEO Uni Asia He said in interview With the Financial Times (FT) on Monday (June 20).
Asia said the company is working with investment bankers to acquire two companies “soon,” adding that the two companies in question are wealth technology companies, one in the United States and the other based outside the United States.
“We are very excited about the acquisition – that’s part of the reason why We included“, said the CEO. “We have a number of potential deals that we are looking at including companies that will help us grow our wealth offering. We remain committed to strengthening our global footprint including expanding the US market.
This comes after eToro acquired the cryptocurrency company Zingo In April, a $70 million deal was reached aimed at enhancing the company’s ability to deliver things like Premium assets and emerging decentralized trading models such as prediction markets and perpetuals.
“We believe the future of finance will be like this Increasingly digital“It is decentralized and user-controlled, with self-custodial playing an important role in this development,” Asia said at the time.
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He told the Financial Times that he expects more deals in fintech, as the sector deals with financing pressure caused by rising interest rates.
“The key is to diversify into more payments services… This may make us think about applying for banking licenses in the future, or buying a bank,” Asia said, adding that the company will focus more on payments rather than lending.
As the Financial Times noted, the past few months have seen a wave of fintech companies applying for banking licences, after the Trump administration eased regulations to become approved lenders.
In 2025, the Office of the Comptroller of the Currency received 14 applications Charters againMany of them are FinTechs. This number is approximately equivalent to the total applications received by the regulatory body in the previous four years combined.
This year has already seen the Latin American financial services giant no Obtain conditional approval for Establishing an American bank. UK based digital lender revolution It is also planning to launch US banking operations.
“It is the dominant feature The current charter wave Many applicants are not seeking to become traditional banks, “instead, they are seeking licenses that allow them to perform specific financial functions,” PYMNTS wrote earlier this year.
