eToro Teams Up for Crypto Custody Solutions in Germany

To enhance cryptocurrency services, eToro, the global trading and investment platform, has announced a partnership with Tangany, a Munich-based fintech specializing in crypto custody solutions. The collaboration aims to provide secure and transparent crypto asset custody services for eToro users in Germany.

Starting from the end of January 2024, Tangany, a BaFin-licensed crypto custodian, will extend its white-label expertise to eToro’s Germany-based clientele. This collaboration marks a milestone for both companies, leveraging Tangany’s technological foundations developed entirely in-house at its Munich headquarters.

An eToro spokesperson expressed enthusiasm about teaming up with Tangany, emphasizing the fintech’s reputation as a respected and innovative local player. The collaboration is seen as a strategic move to further enhance eToro’s current offerings for German users.

Martin Kreitmaier, Managing Director of Tangany, expressed pride in the partnership, stating: “We are proud that eToro, a truly established global trading and investment platform, has chosen to partner with Tangany on crypto custody solutions for its clients in Germany.” He added that Tangany would collaborate closely with the eToro team to ensure the delivery of a secure and transparent crypto service to users in Germany.

Tangany, founded in 2019, has evolved into a leading German provider of crypto custody services, offering white-label solutions for financial service providers. With a BaFin license and a focus on technological innovation, the firm believes it is well-positioned to contribute to the success of the partnership.

Established in 2007, eToro operates as a multi-asset investment platform regulated across various jurisdictions globally. The company has recently received recognition as a Crypto Asset Service Provider from the Cypriot regulatory authority, CySec.

ADGM Greenlights eToro: Broker Authorization for Securities, Derivatives, and Crypto Asset

Earlier, Finance Magnates reported that eToro secured approval from the Abu Dhabi Global Market (ADGM) to function as a broker dealing in securities, derivatives, and crypto assets within the United Arab Emirates.

The endorsement by the Financial Services Regulatory Authority of ADGM permits eToro to establish a presence in Abu Dhabi and extend its services across the UAE. Yoni Assia, eToro’s Founder and CEO, considers this regulatory milestone a significant step in the platform’s global expansion, expressing excitement about joining Abu Dhabi’s burgeoning fintech ecosystem.