eToro Secures FSP License from ADGM To Operate in UAE
- It is a major step forward in eToro’s plan for international growth.
- eToro also intends to assist users in facilitating education in financial matters.
The United Arab Emirates (UAE) has granted eToro a Financial Services Permission (FSP) license, allowing the global trading and investing platform to begin operations. The Abu Dhabi Financial Markets Authority (ADGM), located in the capital of the UAE, is a worldwide financial hub. They granted eToro Financial Services Permission (FSP), allowing the company to operate.
The social investing platform may lawfully provide its services to the region thanks to this license. Importantly, the latest eToro license grants the platform the ability to facilitate trading in crypto assets, securities, and derivatives inside the UAE.
Continued Global Expansion
The newest acquisition is a major step forward in the company’s plan for international growth, which the company has already announced. When asked about Abu Dhabi’s recent growth as a fintech center, eToro’s founder and CEO Yoni Assia said that his company would be a part of it. With the new license, he hopes eToro can further establish itself in the area as a trading platform.
“The approval of our operating licence by ADGM is a key milestone in our continued global expansion. Abu Dhabi is increasingly recognised as a growing fintech hub, and we are excited to become part of this flourishing ecosystem.”
Additionally, eToro intends to assist users in facilitating education in financial matters, particularly as they pertain to digital currency. Moreover, ADGM is certain that the UAE-issued eToro license, which gives the company access to ADGM’s innovative ecosystem and progressive laws, will accelerate the platform’s goal.
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