eToro acquires Marq Millions to support debit card launch

Investment platform eToro has acquired e-money business Marq Millions, rebranding it eToro Money and making it the issuer for a forthcoming debit card.

Co-founder and chief executive of eToro Yoni Assia said: “The launch of a debit card is a natural next step for eToro as we broaden the range of services that we provide to our users.

The card will initially be available to eToro Club members in the UK, then Europe and then will be extended to non-eToro users.

The acquisition gives eToro Money principal membership with Visa and an EMI License permission from the Financial Conduct Authority.

“The debit card will provide instant cash-out and cash-in functionality, greatly improving the user experience - we expect to see a strong take up of the card - initially from our client base," added Assia.

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