eToro is preparing to expand beyond its core trading platform through wealth-technology acquisitions, payments services, and potentially banking products. Chief executive Yoni Assia said the company is working with investment bankers on potential acquisitions of 2 wealth-technology firms, one based in the United States and another in a separate market. The strategy reflects a challenge for digital brokerages, which can grow quickly during high market activity but often see revenue slow when volatility falls or retail participation weakens, making wealth management, payments, and banking attractive for more recurring income and deeper customer relationships.
eToro Works With Bankers on Wealth-Tech Acquisitions
The acquisitions being explored by eToro are expected to support its wealth-management ambitions. While Assia did not name the potential targets, wealth-technology firms typically provide portfolio tools, robo-advisory services, financial-planning software, and infrastructure used by advisers and investment platforms. "We are very acquisitive — it is part of the reason why we listed," Assia said. "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."
The United States is central to that plan. It remains one of the world's largest wealth-management markets, with deep pools of client assets held through advisers, brokerages, retirement accounts, and digital investment platforms. Expansion in that market could help eToro compete for longer-term assets rather than only active trading volume.
The company has already begun using acquisitions to broaden its product base. In April, eToro agreed to acquire self-custodial crypto wallet provider Zengo in a deal valued at about $70 million. The purchase gives eToro additional digital-asset infrastructure and extends its reach beyond brokerage execution.
eToro Evaluates Payments Services and Banking Entry
Assia said eToro has started moving into more traditional financial services, including payments, and is evaluating options to enter banking. The company could pursue a banking licence directly or acquire an existing bank as part of its longer-term expansion strategy.
Banking would give eToro access to a wider set of revenue sources, including deposits, lending, payments, and potentially cash-management products. For a trading platform, those services can make customer relationships more durable and less tied to whether users are actively buying or selling assets.
The regulatory backdrop may also be encouraging fintech companies to reconsider banking. Recent policy changes by the US Office of the Comptroller of the Currency under the Trump administration have made the process of becoming a chartered lender more accessible, increasing interest among financial-technology firms exploring regulated banking activities. In the United Kingdom, policymakers established a Scale-up Unit last year to help high-growth financial-services companies expand.
Acquisition Strategy Introduces Regulatory and Integration Risks
The opportunity for eToro is clear: a larger product suite could reduce dependence on trading revenue and create more ways to monetize its customer base. Wealth technology could support fee-based services, payments could increase daily engagement, and banking could open new income streams from deposits and lending.
But the strategy also adds complexity. Banking carries heavier regulatory obligations, capital requirements, compliance controls, and supervisory scrutiny than brokerage services. Payments infrastructure also brings operational risk, fraud controls, and licensing requirements across multiple jurisdictions.
Acquisitions introduce another challenge. Buying wealth-tech firms can accelerate expansion, but eToro will need to integrate products, technology, teams, and compliance systems without weakening the user experience that helped build its platform. The company will also face competition from established banks, digital brokers, wealth managers, and fintech apps that are pursuing similar ecosystem strategies.
No acquisition targets have been publicly identified, and no banking transaction has been announced. Still, Assia's comments show that eToro is positioning itself for a wider role in fintech, with wealth management, payments, crypto infrastructure, and possible banking all becoming part of the company's next phase.
FAQ
What wealth-tech acquisitions is eToro pursuing?
eToro is working with investment bankers on potential acquisitions of 2 wealth-technology firms, one based in the United States and another in a separate market. CEO Yoni Assia did not name the targets, but wealth-tech firms typically provide portfolio tools, robo-advisory services, financial-planning software, and infrastructure used by advisers and investment platforms.
Why is eToro expanding into payments and banking?
eToro is seeking more stable revenue streams beyond trading. Digital brokerages can grow quickly during high market activity but often see revenue slow when volatility falls or retail participation weakens. Wealth management, payments, and banking can provide more recurring income and deeper customer relationships, making customer relationships less tied to whether users are actively buying or selling assets.
What acquisition has eToro already completed?
In April, eToro agreed to acquire self-custodial crypto wallet provider Zengo in a deal valued at about $70 million. The purchase gives eToro additional digital-asset infrastructure and extends its reach beyond brokerage execution.
