eToro will provide crypto trading services to residents of the state of New York, thus completing its coverage across 48 states in the United States. The trading and investment platform reached an agreement after years of negotiations with local regulators, which culminated in the obtainment of the BitLicense and the Money Transmitter License from the state of New York, considered among the most demanding licenses in the country.
More than 9 million New Yorkers will be able to trade crypto assets within eToro’s platform, which also includes stocks, ETFs, and options. Additionally, this service will be complemented by educational tools and a social investment community aimed at facilitating their introduction to digital markets.
Andrew McCormick, director of eToro US, noted that New York is the epicenter of financial markets and a hub of innovation, and highlighted that operating in that state represents both a strategic milestone and a demonstration of the company’s commitment to providing a responsible service for entering the crypto market.
According to eToro’s Retail Investor Beat report, 36% of U.S. retail investors already have exposure to cryptocurrencies, while an additional 17% plan to increase it.
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