The eToro platform has announced the expansion of its cryptocurrency services in Germany by launching spot trading. Previously, German users could only trade cryptocurrencies through contracts for differences (CFDs).
Development of eToro and DLT Finance Partnership
According to the press release, eToro has partnered with DLT Finance to offer German users the ability to trade cryptocurrencies via spot trading. Earlier this year, eToro secured a deal with the German brokerage firm Tangany for the secure custody of crypto assets.
Terms for German Users
German users will trade cryptocurrencies with DLT Finance as the trading counterparty, while Tangany will be responsible for the secure storage of digital assets. Users must agree to the terms and privacy policies of DLT Finance, Tangany, and eToro. Initially, a 1% fee will apply for buying and selling crypto assets.
Recent Changes in eToro
The expansion of eToro's crypto services comes shortly after settling a dispute with the United States Securities and Exchange Commission (SEC), wherein eToro agreed to reduce its crypto offerings in the US to only Bitcoin, Bitcoin Cash, and Ether. Additionally, eToro partnered with Deutsche Börse to add over 290 new German stocks to its platform.
The expansion of crypto services in Germany and partnerships with German financial organizations strengthens eToro's position in the European market and provides users with new investment opportunities.
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