eToro Wants to Become More Than a Trading Platform

Hey Digital Banking Fanatic!

eToro is looking beyond trading.

The company is reportedly exploring multiple acquisitions and considering entering traditional banking services, including a potential bank acquisition or future banking licenses.

What caught my attention is how familiar this playbook is becoming.

A few years ago, many FinTechs started with a single product and focused on doing one thing exceptionally well. Today, some of the industry's biggest players are moving in the opposite direction, trying to become a broader financial destination for their customers.

eToro already helps customers invest, trade, and manage their money.

Adding banking services would bring the company one step closer to becoming a true financial super app rather than just a trading platform.

And if you enjoy comparing how different business models are performing, keep scrolling. Further down, you'll find a detailed look at Revolut and Monzo, two of Europe's most closely watched digital banking success stories.

Today's remaining Digital Banking headlines are just below. 👇 See you tomorrow!

Cheers,

Marcel

INSIGHTS

📊 Battle of the neobanks: Revolut 🆚 Monzo

Here is a comparison on 𝗞𝗲𝘆 𝗦𝘁𝗮𝘁𝘀:

NEWS

🇺🇸 eToro is exploring acquisitions amid a push into traditional banking services. CEO Yoni Assia said the company is evaluating multiple wealth-tech acquisitions and could eventually seek banking licences or acquire a bank, with a focus on payment services rather than traditional lending.

🇭🇺 Qvik and payment requests are available on Revolut, enabling instant account-to-account transfers, payment requests, and QR-code payments directly within the Revolut app. The addition strengthens Revolut’s local payments offering following the launch of its Hungarian branch and provides users with access to Hungary’s domestic instant payment infrastructure.

🇦🇺 Revolut launches Ultra plan in Australia for users. The new top-tier offering sits above Revolut's existing Plus, Premium and Metal tiers. It includes a platinum-plated debit card, travel benefits, subscription bundles, and access to investment products and is priced at AUD $99.99 per month or AUD $999 per year. Additionally, Revolut is preparing to offer Greek IBANs, a move that could strengthen its position as a primary banking provider in Greece.

🇰🇷 Korea's online-only banks have nearly 60 million customers as the focus shifts from scale to profitability. South Korea’s three leading digital banks, KakaoBank, K Bank, and Toss Bank, have surpassed 58 million customers, reflecting strong demand for mobile-first banking. 

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