Global investment platform eToro has received an in-principle approval to operate as a securities, derivatives and crypto broker in Abu Dhabi.
The approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) will enable eToro to establish a base from which to offer its services to customers across the region.
Jason Hughes, senior executive officer for UAE at eToro, said, “This is an important milestone for eToro. The UAE has one of the most vibrant fintech landscapes in the Middle East, and Abu Dhabi one of the most sophisticated regulatory frameworks for digital assets.
“We’re incredibly proud to be joining this ecosystem. We look forward to working with the ADGM to obtain our full licence, and, in turn, expanding our services to investors in the UAE and further afield. We recently opened our office in Abu Dhabi to support this expansion and are looking forward to growing the team locally.”
George Naddaf, regional manager of the UAE at eToro, added: “eToro’s goal is to provide more people with access to financial markets.
“With the full licence in place, more investors in the Middle East will gain access not only to global markets, but also a wealth of educational content and the opportunity to share knowledge and discuss their strategy with our community of global investors. We are looking forward to working with our prospective clients and partners in the region.”
