Social investing platform eToro has secured money transmitter and virtual currency licenses from the New York State Department of Financial Services.
The licenses mean that, once a new subsidiary is operational, eToro can offer users in New York state trading in stocks, crypto and options.
European outfit eToro has been building its US presence since launching there in 2019. Last year, the firm acquired local options trading app Gatsby for around $50 million.
Yoni Assia, CEO, eToro, says: “Securing our BitLicense and Money Transmitter License in New York is a key milestone in the continued expansion of our US business and a testament to the commitment of our team in partnering with regulators and state entities.”