eToro is preparing potential acquisitions and exploring a move into conventional payments services that may eventually involve applications for banking licences, the Financial Times (FT) reported citing CEO and co-founder Yoni Assia.
The Nasdaq-listed group is working with investment bankers on two transactions expected “soon”, Assia said.
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He identified the intended targets as wealth-technology companies, one in the US and another in a different market.
In an interview with FT, Assia told: “We are very acquisitive — it is part of the reason why we listed.
“We have a number of potential deals we are looking at including businesses who would help us grow our wealth offering. We remain committed to growing our global footprint including expanding the US market.”
Assia did not provide figures for the possible acquisitions.
Founded in 2007, eToro offers trading in commodities, equities, cryptocurrencies and other assets. In April, the company also agreed to acquire crypto business Zengo for $70m.
Assia said he expected additional transactions across fintech.
“There is going to be a big wave of consolidation . . . not all businesses will be able to exist as independent public businesses,” he said during the Money2020 conference. “There are founders here who have been doing the same thing for 20 years.”
He said the group had begun moving into more traditional banking-related services so it would be more protected from swings in asset prices.
“The key is for diversification into more payments services . . . and that could see us consider applying for banking licences in the future, or buying a bank,” Assia said.
He added that the emphasis would be less on lending and more on payments functions.
Assia said any step towards licensing could be in the US or in other jurisdictions.
eToro reported $216m in net income in 2025, 12% higher than a year earlier.
Earlier this year, fintech firm Revolut applied for a national bank charter in the US, while Brazil’s Nubank secured conditional approval for US national bank charter.
