eToro, the popular trading platforms which allow users to trade traditional shares as well as crypto assets is planning to launch their debit card services in 2020. The trading platform is also looking to expand their service base in the United States, Hong Kong and Africa.
Although the rumours of a possible debit card launch have been riffed for quite some time now, but in a recent interview eToro’s CEO confirmed that the company will be launching its debit card services this year.
Yoni Assia, CEO and co-founder of eToro in a recent interview confirmed the company’s plan on debit card and said,
“the card will expand the financial services that we currently provide to customers from over 100 countries around the world.”
Assia believed that the debit card service would help in crypto adoption as well as enhance the customer experience for its 12 million users. The CEO noted that the introduction of the Debit card would allow users to manage and spend their funds better.
Assia also believed the move would help them become the trading platform of choice as their platform is only among the very few which offers trading services for traditional shares and asset classes along with cryptocurrencies.
The firm is also planning to expand its services in the countries where it has a working base in and the target countries include the United States, Hong Kong and Africa. The firm’s CEO noted,
“Today, we offer US customers only trading in cryptocurrencies, but in the future, we’ll expand our activity there to trading in shares. In addition to the 42 US states in which we’re active, we’re planning to expand to other states, including New York.”