Trading and investing platform eToro has recently announced the receipt and activation of its Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS).
This development enables eToro to extend its services into Singapore. Now, eligible retail investors across the region can access a wide range of investment options on eToro’s social investing platform, including stocks from over 20 global stock exchanges, exchange-traded funds (ETFs), and derivatives.
Additionally, the company has appointed key leadership in the region. Their roles include developing eToro’s franchise in Singapore and further expanding its global footprint in Asia.
On eToro, users can benefit from visualizing other investors’ portfolios and statistics. They can also interact with these investors to exchange ideas and discuss trading strategies. Furthermore, customers have access to a Virtual Portfolio for practice trading and can utilize the free financial education resources available in the eToro Academy.
eToro’s Expansion into Singapore
Regarding the expansion, eToro’s representatives highlighted that this achievement is significant for the company. The region of Singapore is recognized as one of the most dynamic financial markets in Asia-Pacific and serves as a gateway to global capital flows. By activating its CMS licence, the company aims to connect investors with other participants in the industry and provide tools necessary for enhancing their knowledge and wealth.
Furthermore, eToro continues to collaborate closely with regulators while investing in local talent and partnerships as it scales its services across Singapore.
Crypto Offering Expansion in the US
Prior to this announcement, eToro expanded the number of crypto assets available to users in the US, bringing the total to over 50. The company added 34 new tokens, including Solana, Cosmos, Hedera, Filecoin, and Morpho. This expansion is part of eToro’s ongoing strategy to offer a broader range of investment options for US retail traders.
The crypto offering complements the platform’s existing services, which include trading in equities, options, and exchange-traded funds (ETFs). At that time, eToro mentioned that the initiative aimed to provide retail investors across the US with increased flexibility when managing diversified portfolios.