One of the leading social trading networks in the foreign Exchange and CFDs space, eToro has announced that it has signed a strategic partnership with Lufax Holding Ltd. The cooperation agreement between the firms is aiming to boost eToro’s profile with Chinese clients.
Internet finance company Lufax is China’s largest internet finance company and the world’s largest peer-to-peer lending provider.
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This is not the first Chinese venture for eToro. The social trading network has successfully secured a Funding Round from Chinese firm Ping An Ventures. The strategic cooperation agreement with Lufax improves eToro's profile and gives the company the ability to venture into further social investing opportunities to Chinese clients which are residing overseas.
Earlier this year Lufax already became a white label partner of Saxo Bank in the region, with the Danish bank delivering its SaxoTraderGO solution to the Chinese market.
Commenting on the announcement, the co-founder and CEO of eToro Yoni Assia said: “The Chinese market has an increasingly strong appetite to invest. This new partnership will provide overseas Chinese customers with the most advanced investment tools to trade with our global social trading community."
“China is a strategic market for us and this collaboration with a leading internet finance company solidifies our commitment to democratise the financial markets for everyone to invest,” he elaborated.
The CEO of Lufax Holding Ltd., Gregory Gibb, elaborated: “eToro will provide our overseas clients with the innovative technology that satisfies their increasing investment needs. We pride ourselves in offering a first class trading experience and our partnership with eToro ensures that we continue to deliver on this goal.”
