eToro Pursues First Southeast Asia Broker License

eToro is moving to secure its first broker license in Southeast Asia by applying for regulation in Singapore. According to sources familiar with the matter, eToro has submitted an application to the Monetary Authority of Singapore (MAS) for this regulatory approval. The broker has confirmed that the application process is underway, although specific details regarding the license sought have not been disclosed.

If successful, eToro’s approval by MAS would mark a significant milestone. It would become the first broker to obtain such a license in Southeast Asia. The move aligns with eToro’s strategic expansion plans and commitment to regulatory compliance across global jurisdictions.

eToro has established a widespread presence worldwide, operating under various regulatory frameworks in multiple countries. Notably, regulators in the United Kingdom, Cyprus, the Netherlands, and the United Arab Emirates oversee the broker.

eToro Pursues First Southeast Asia Broker License

However, eToro has faced regulatory challenges in some markets. Recently, the Philippine regulator warned against the broker, alleging unauthorized trading services offered to residents. eToro clarified that it has no local presence in the Philippines and does not actively market its services there.

Singapore, known for its robust regulatory environment and growing cryptocurrency market, presents an attractive opportunity for eToro and other crypto exchanges and brokers. With several players already holding licenses from MAS, the region has emerged as a lucrative market for financial services providers.

eToro’s expansion efforts come amidst considerations for a potential public listing, possibly in the United States. The broker, which generates significant revenue in Europe, sees the US market as offering deep liquidity and extensive awareness. Earlier attempts at a public listing through a reverse merger fell through, but eToro is now exploring alternative options with a valuation exceeding $3.5 billion.

eToro initially gained prominence in copy-trading before diversifying its offerings to include stocks and cryptocurrencies. Lastly, with around 3 million accounts and over $11.3 billion in customer assets, eToro stands out as a leading global brokerage.

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