Bank of Spain issues virtual asset registration for eToro

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).

    Share Story:

Recent Stories


The human firewall: Activating employees to safeguard financial data
As financial services increasingly embrace SaaS and cloud-based technologies, they face emerging threats to safeguard sensitive customer data. While comprehensive IT security measures are essential, the active involvement of employees across organisations is pivotal in ensuring the protection of sensitive data.

Building a secure financial future for instant payments: The convergence of ISO 20022 and fraud detection
The financial landscape is rapidly evolving its approach to real-time transactions under the ISO 20022 standard, and financial institutions must take note. With examples such as the accelerated adoption of SEPA Instant Credit Transfers in Europe and proposed New Payment Architecture (NPA) programme in the UK, the need for swift and effective fraud detection is more crucial than ever.

Data Streaming and Consumer Duty: Transforming customer experience in banking
Introduced at the end of July, the Consumer Duty is a game-changing new set of rules and guidance for financial services institutions in the UK, and companies must look to modernise their systems in adherence with it in mind to create the best customer experience possible.

From insight to action: Empowering financial institutions through advanced technology and collaborative information sharing
The use of Information sharing in enhancing financial crime prevention has been universally agreed as being beneficial. However no-one has been able to agree on how information can be shared safely without breaching data protection laws or having the right systems to facilitate this, Information sharing has re-emerged as a major consideration for financial institutions (FIs) ahead of the Economic Crime and Corporate Transparency Bill being made into law in the UK.