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Friday, 04/09/2021 5:38:26 PM

Friday, April 09, 2021 5:38:26 PM

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EToro: FinTech Acquisition Corp V (NASDAQ:FTCV) is bringing social investment network eToro public in a deal valuing the company at $10.4 billion.

EToro launched Bitcoin trading in 2013 on its platform. In 2020, 44% of assets were in equities, 32% in commodities, 16% in crypto and 8% in currencies.

In 2020, the company added over five million new registered users to end the year with 17.5 million. The company’s total of registered accounts grew in 2021 to 18.7 million in January and 20 million in March.

The company’s users completed an average of eight million monthly trades in 2019 and 27 million monthly trades in 2020.

The company plans to launch stock trading in the U.S. market in 2021 to complement its existing crypto and social trading platforms.

EToro had revenue of $650 million in fiscal 2020, a 147% year-over-year increase. The company is guiding for revenue to hit $1.0 billion in fiscal 2021 and $1.2 billion in fiscal 2022.

With its strong brand awareness and heavy marketing, eToro is quickly becoming known as a stock trading and crypto trading platform. The company could trade higher on a successful Coinbase IPO.

FTCV, EToro will benefit from a Coinbase IPO


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