The Bank of Spain has approved the registration of multi-asset investment platform eToro as a service provider for the exchange of virtual currency for fiat currency and electronic wallet custody services.

Tali Salomon, the company’s regional manager for Iberia and LatAm, said that the company has been a long-standing supporter of crypto and blockchain technology.

“This registration is a testament to our commitment to operating a growing business which prioritises consumer protection while also nurturing innovation and ensuring access for individual investors,” said Salomon.

He continued: “We will continue to empower our Spanish users by providing them with access to a diverse range of asset classes, investment tools and educational resources to enable them to grow their knowledge and wealth.”

The platform recently partnered with Twitter – rebranded to 'X' earlier this week – to enable users to trade crypto and stocks on the social media site.

Now when Twitter users search with its recently introduced “$Cashtag” symbol, they will be able to access eToro’s platform to view more information on assets including cryptocurrency and commodities and be presented with the option to invest.

Introduced late last year, the “cashtags” have reportedly generated around 420 million searches per day since the start of 2023, with the most popular being “$TSLA” (Tesla).

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