eToro acquires Marq Millions

A dynamically developing investment platform eToro has just acquired a financial sector company Marq Millions. This is the beginning of the implementation of the plan that will result in the spread of the eToro debit card, which will ultimately be available not only to eToro customers but also to other investors.

The eToro investment platform has just announced that Marq Millions is becoming its property. The amount of the transaction has not been disclosed, but after the recent profits, the global broker did not hide that some of them would invest in acquisitions that would allow for the increase and diversification of revenues. This is what the acquisition of Marq Millions is intended to help.

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The acquired UK company will change its name to eToro Money and will be the issuer of the eToro corporate debit card. And it's not a tune from the very distant future. eToro is already an official partner of Visa's leader in electronic payments, it also has a license from the British Financial Supervisory Authority (FCA), which allows, among other things, to mediate electronic payments.

Who is the eToro debit card for

The card is to be introduced to the market in stages. At the beginning, only clients of the broker from Great Britain will have access to it. In the second stage (the specific time frame has not been specified yet, but the company emphasizes that it wants it to happen as soon as possible) the card will be available to other customers of the company from all over Europe. Ultimately, anyone will be able to get the card - even if he has not been and does not intend to bind the broker in any other way.

I am proud to announce the acquisition of Marq Millions. She is now joining the eToro family and I am deeply convinced that she will be part of their growing strength. The appearance of a debit card in our offer is a natural step in the development of our company, in line with our strategy of constantly expanding the range of services for our clients. Today we have a wide selection of assets and investment opportunities, but that's not all, because our partners can also choose the methods of investing. At eToro, traders can implement their own strategy, copy other users' strategy or invest in a specific portfolio - underlines eToro CEO Yoni Assia

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Broker eToro because it creates its own wallets, which are the equivalent of fashionable sectors. Has, among others a portfolio based on the oil sector, thanks to which clients who do not have too much investment knowledge can easily enter the market by diversifying their positions.

More ideas soon

The eToro broker has been triumphant in recent months. The broker acquired 13 million new users only in the first four months. This is an excellent result, better than last year by as much as 427%. Growth has been accelerating since May 2019, when eToro introduced the possibility of investing for people from the UK and other European countries. It is European individual investors that are to be the first clients for the eToro card.

The support of the leading global fintech brand will allow the card to be issued, which should become the leading product in its category. However, it is worth emphasizing that the debit card is only the beginning and we can expect more news from eToro Money in the future - says former COO of Marq Millions and current managing director of eToro Money Mahmood Kamran

Existing since 2007, eToro today employs 850 people and operates in 100 countries. The website is available in 21 languages, including Polish. It is worth nearly $ 1 billion.

eToro is a multi-asset platform that offers both stock investing and CFD trading.

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