eToro Eyes Wealth-Tech Acquisitions and Banking Licence Post-Listing

eToro (Nasdaq: ETOR) is actively pursuing acquisitions in the wealth-technology sector and considering applying for banking licences, its co-founder and CEO Yoni Assia confirmed. The company, which went public last year, is already in discussions with two potential targets, one in the United States and another elsewhere, and is working with investment bankers to advance the deals.

Assia stated that being acquisitive was a key reason for the public listing, with several potential deals under review to grow its wealth offering and global footprint, including in the US market. He did not specify the size of the potential acquisitions.

The broker is also exploring expansion into traditional payments, which may lead to future applications for banking licences or the acquisition of a bank itself, following a path taken by fintechs like Revolut and Nubank. Assia emphasized the strategic focus would be on payment services over lending, a move intended to help hedge against asset price movements.

eToro positions itself as a broad fintech offering multi-asset trading, including stocks, cryptocurrencies, and CFDs, rather than just a brokerage. For Q1 2026, the firm reported net income of $82 million on revenue of $258 million, with strong commodities trading commissions offsetting a decline in crypto volumes.

Since its 2007 founding, eToro has completed around six acquisitions, most prior to its listing, with the purchase of crypto wallet provider Zengo being its only post-IPO deal so far. Assia predicted a significant industry consolidation, suggesting not all businesses can survive as independent public companies.