Cryptocurrency Trading Platform eToro Considering An IPO For Worldwide Expansion
One of the most important cryptocurrency trading platforms worldwide, eToro, is considering holding an Initial Public Offering. The main intention behind it is to expand its products and services to clients from different countries.
According to reports from Financial News on June the 1st, eToro is approaching investment banks over an IPO. At the moment, the Tel Aviv-based company is holding talks with different investment banks and companies.
The company that was launched in 2007 has embraced Bitcoin on its early years and now it is one of the most important crypto trading platforms in the world. At the same time, eToro decided to offer support to a wide variety of crypto-assets so as to meet the increased demand.
An important feature of the company is that it allows individuals to mimic the portfolios of the most successful users.
One of our popular investors shared his thoughts about Spotify's private listing tomorrow. Worth a read: "Spotify's "IPO" is technically not an "IPO" as they are using a different method for listing…" Your capital is at risk. via @eToro https://t.co/1qKensH8VS
— eToro (@eToro) April 2, 2018
The IPO discussions arrive months after the group was able to raise $100 million dollars to keep expanding into new markets and regions around the world. At the same time, eToro is also planning to launch a virtual currency exchange in the United States due to the increased demand from the society for trading cryptocurrency-related assets.
It is also important to mark that the company did not want to create an Initial Coin Offering (ICO), compared to what other similar platforms and crypto exchanges did in the past to keep expanding their products and services.
As cryptocurrencies expanded the last year, the amount of scams in the ICO industry – companies issue a token in exchange for monetary support – affected the credibility on these means to raise funds. The IPO seems a more compliant way of gathering money from important enterprises interested in the market.