The trading platform targets wealth-tech deals in the US and another market to expand its global footprint and services.
eToro is pursuing acquisitions and exploring a banking licence to diversify beyond trading, its CEO said. The Nasdaq-listed firm is working with bankers on two imminent deals targeting wealth-technology companies, one in the US and another abroad.
The company, which offers trading in equities, crypto, and commodities, recently agreed to acquire crypto firm Zengo for $70m. CEO Yoni Assia cited consolidation trends in fintech, noting not all public firms will remain independent.
Assia said eToro aims to reduce exposure to asset price volatility by expanding into traditional banking services, though no financial details were disclosed for the potential deals.