eToro Obtains Broker License from Abu Dhabi Global Market

eToro, the global leading multi-asset trading and investing platform, announced that it has received approval for a Financial Services Permission (FSP) from the Financial Services Regulatory Authority of ADGM to operate as a broker for securities, derivatives, and cryptoassets in the United Arab Emirates. The development comes more than a year after the platform's in-principle approval​.

Yoni Assia, Founder and CEO of eToro, commented: "The approval of our operating license by ADGM is a key milestone in our continued global expansion. Abu Dhabi is increasingly recognized as a growing fintech hub, and we are excited to become part of this flourishing ecosystem."

He added: "With our team in Abu Dhabi led by Jason Hughes, Senior Executive Officer for eToro Middle East and George Naddaf, GCC & MENA Regional Manager, we are looking forward to deepening our relationships in this dynamic market and to helping our UAE clients grow their financial knowledge and wealth as part of a global community of investors."

Arvind Ramamurthy, Chief of Market Development at ADGM, said: "We are delighted to welcome eToro to ADGM. We are confident that ADGM's dynamic ecosystem and progressive regulations will enable eToro's vision, ADGM is the largest regulated jurisdiction of virtual assets in the MENA region and eToro's participation will add to its vibrant and trusted ecosystem of virtual asset trading venues, global exchanges and service providers, and reinforce the UAE's strategic value to global finance."

This approval follows eToro's registration as Virtual Asset Services Provider (VASP) successively in Spain​ and Cyprus this year, further boosting its global development.