Financial Services
eToro plots banking licence and fresh acquisitions as it diversifies away from crypto volatility
eToro is working with investment bankers to buy two wealth-technology businesses 'soon' — one in the US, another elsewhere — and is considering a banking licence application to expand into payments, according to chief executive Yoni Assia (Source: Financial Times, 15 Jun 2026). The Nasdaq-listed platform made $216mn in net income last year, up 12% on the year before, and spent $70mn acquiring crypto firm Zengo in April.
eToro's share price has fallen by nearly 40% since its Nasdaq listing, and Assia says the move into banking and payments is designed to hedge the business against swings in crypto and asset prices. He expects a broader wave of fintech consolidation, telling the Money2020 conference that 'not all businesses will be able to exist as independent public businesses' (Source: Financial Times, 15 Jun 2026).
For brand and communications teams, this is the moment to draft the integration story before the deal does. A trading platform becoming a bank needs a clear account for existing customers of what stays the same, what's new, and why broader is safer rather than riskier — and firms expecting to be acquirers or targets in the coming consolidation wave should have that narrative ready now.