eToro Will Launch Crypto Debit Card In 2020: Report

eToro will launch a crypto debit card that will enable its customers to invest in the crypto assets they wish including stocks, commodities in the course of this year while expanding its operations in the US, Hong Kong, and South Africa as we are reading further in the blockchain latest news.

The rumors continued for a longer time and now it is clear that eToro will launch its own debit card and now in a recent interview with Globe’s Roy Katsiri, the platform confirmed that they are indeed planning to launch a debit card this year. Yoni Assia, the CEO, and co-founder of the platform said:

‘’The card will expand the financial services that we currently provide to customers from over 100 countries around the world.’’

Based on the premise that the ‘’total value of cryptocurrency market increased 54 percent to $193 billion in 2019, and bitcoin accounts 68% of it’’ eToro expects that its debit card will further help to improve the customer experience for the 12 million users. In the efforts to streamline the operations, eToro’s leadership believes that the debit card will provide its customers a more convenient way to withdraw and spend their funds so eToro claims to ‘’be one of the few companies in the world in which the customers can both buy bitcoin on the platform and transfer it to his wallet, and also trade in shares.’’

By trying to get bigger and to innovate more, back in 2019 eToro announced the acquisition of Delta. Delta is a crypto portfolio tracker application that allows the users to track Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and many other altcoins. Delta was the second acquisition for eToro in 2019. Additionally, eToro plans to expand the activities in the countries that it operates. For example, the company started operations in the US in 2019 and it already plans to expand the operations even more. According to Assia:

‘’Today, we offer US customers only trading in cryptocurrencies, but in the future, we’ll expand our activity there to trading in shares. In addition to the 42 US states in which we’re active, we’re planning to expand to other states, including New York.’’