eToro Opens Up French Users to Crypto Assets with DASP Registration

The European subsidiary of eToro, an Israeli multinational social trading and multi-asset investment company, says its users in France can now invest directly in crypto assets.

The trading network said its French users can trade the digital class in addition to an existing range of investment products.

eToro on Friday said its registration as a Digital Asset Service Provider (DASP) with the Autorité des Marchés Financiers (AMF), France’s financial industry watchdog, makes this possible.

The development comes two months after the total number of cryptocurrency assets on eToro peaked at 62 after the trading network added four new tokens to its platform.

The company explained that the registration demonstrates its commitment to collaborating with regulatory authorities to comply with rules and regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.

It added that the registration shows that it is committed to safeguarding retail investors.

Speaking on the move, Emmanuel Sackmann, eToro's Regional Manager for France, said the network’s goal is to get more people to invest.

Sackmann added that the multinational firm supports all regulatory actions that protect retail investors without excluding those who could benefit most or stifle innovation.

“We are very proud to have received this registration from the Autorité des Marchés Financiers (AMF). France is an important market for us, and we are delighted to be able to offer our French users direct access to crypto assets as part of a diversified portfolio of investments,” the Regional Manager said.

Private Funding?

Meanwhile, Finance Magnates reported last month that the Israeli company is on track to raising between $800 million and $1 billion in a private funding round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term.

This is even as the network continues its efforts towards becoming a public company.

The funding round will be one of the largest private equity funding rounds for any Israeli tech company if completed successfully.

The funding is predicted to raise the valuation to between $5 billion and $6 billion.

However, eToro declined to confirm the funding or the new valuation.

“We don't comment on market rumours,” an eToro spokesperson told Finance Magnates.