Trading and investing platform eToro has announced the receipt and activation of its Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS).
Through this achievement, eToro can now expand its services into Singapore, as the CMS licence is set to allow eligible retail investors across the region to access stocks from over 20 global stock exchanges, exchange-traded funds, and derivatives on eToro’s social investing platform. The company also appointed leadership in the region, including responsibilities such as developing eToro’s franchise in Singapore and further expanding its global footprint in Asia.
Furthermore, on eToro, users can visualise other investors’ portfolios and statistics, as well as interact with them to exchange ideas and discuss strategies. At the same time, customers can practice trading leveraging eToro’s Virtual Portfolio and access free financial education resources in the eToro Academy.
Talking about the expansion in Singapore, eToro’s representatives underlined that this news comes as a significant achievement for the company, as the region is among the most dynamic financial markets in Asia-Pacific and a gateway to global capital flows. By activating the CMS licence, the company can advance its commitment to connect investors to other participants in the industry and provide the tools required for the growth of their knowledge and wealth. Additionally, the company plans to continue to collaborate with regulators while also investing in local talent and partnerships as it scales its services across Singapore.
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Shortly before this announcement, eToro expanded the number of crypto assets available to its users in the US, bringing the total to over 50. The company also added 34 new tokens, including Solana, Cosmos, Hedera, Filecoin, and Morpho. The move came as part of eToro’s continued strategy to expand its multi-asset investment options for US retail traders. The platform’s crypto offering complemented its existing services, which included trading in equities, options, and exchange-traded funds. At that time, the company mentioned that the initiative sought to provide retail investors across the US with increased flexibility when managing diversified portfolios.
