eToro has revealed plans to pursue acquisitions and consider banking licences as it expands into payments services.
According to Financial Times, the announcement did not disclose the value of the planned transactions but said the businesses would support eToro's wealth offering and its presence in the US market.
Wealth-tech acquisitions and prior deals
eToro was founded in 2007 and allows users to trade commodities, stocks, cryptocurrencies and other assets. According to the group’s chief executive and co-founder Yoni Assia, the company remains acquisitive following its stock market listing. 'We are very acquisitive - it is part of the reason why we listed,' he said. The two transactions are expected to be completed soon, though no specific timeline was given.
In April 2026, eToro agreed to acquire crypto company Zengo for USD 70 million. Assia expects further consolidation across the fintech sector, linking this to funding constraints caused by higher interest rates. At the same time, the official also mentioned a number of long-established companies may no longer be able to continue operating as independent listed businesses.
Diversification into banking and payments
The acquisition plans coincide with a wider movement among digital trading platforms to diversify their income streams, reducing share price exposure to movements in the prices of cryptocurrencies and other assets. eToro listed on Nasdaq in May 2025, and its share price has since fallen by nearly 40%. According to Assia, the company's expansion into banking-adjacent services is intended to address this exposure.
Moreover, the strategy was centred on diversification into payments services, which could lead eToro to apply for a banking licence or acquire an existing bank. He added that the focus would be on payments functions rather than lending, and that any move towards licensing could take place in the US or in other markets.
Regulatory backdrop
The plans follow a wider trend of fintech companies applying for US banking licences after the Office of the Comptroller of the Currency (OCC) eased chartering rules under the Trump administration. Revolut and Brazil-based Nubank have both applied for banking charters in the US. Under the previous Biden administration, chartering requirements were more restrictive, leading some companies to consider acquiring an existing bank as an alternative route.
According to data from law firm Freshfields, the OCC received 14 applications in 2025 for a de novo charter to establish a limited-purpose national trust bank, almost matching the combined total for the preceding four years.
