eToro Announces Acquisition To Support Debit Card Launch

Friday 3 July 2020, 3:08 AM AEST - 5 days ago

Global investment platform eToro today announces the acquisition of Marq Millions Ltd, the UK based e-money business. Marq Millions is now trading as eToro Money and will be the card issuer for eToros forthcoming debit card.

Commenting on the acquisition, co-founder and CEO of eToro, Yoni Assia said: We are proud to announce the acquisition of the Marq Millions business and to welcome the team to the eToro family. The launch of a debit card is a natural next step for eToro as we broaden the range of services that we provide to our users.

eToro has always been about opening up finance. We offer our users not only the choice of what assets they invest in – from commission-free fractional stocks through to commodities and crypto – but also a choice of how to invest – they can trade directly themselves, copy another user or invest in a portfolio.

The card will initially be available to eToro Club members in the UK, then Europe, and then will be extended to non-eToro users. eToro has over 14 million registered users and expects to take up the card to be strong.

eToro Money has a Principal Membership with VISA and an EMI License permission from the Financial Conduct Authority.

Over the past thirteen years, we have grown and innovated by listening to what our clients want from eToro. The debit card will provide instant cash-out and cash-in functionality, greatly improving the user experience. We expect to see a strong take-up of the card – initially from our client base. commented Yoni Assia.

Mahmood Kamran, former Chief Operating Officer of Marq Millions and now Managing Director of eToro Money commented: We are incredibly excited to become part of the eToro Group. The backing of this leading global fintech will allow us to issue a debit card which we are confident will become a market leader globally. You can expect to hear a lot more from eToro Money in the coming months and years.

About eToro Money

Marq Millions is now trading as eToro Money and will be the card issuer for eToros forthcoming debit card. eToro Money has a Principal Membership with VISA and an EMI License permission from the Financial Conduct Authority.

About eToro

eToro was founded in 2007 with the vision of opening up the ...

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