eToro EU Approved for Crypto in Germany, Custody Remains with Tangany

eToro Europe Ltd. has received approval to offer cryptoasset
services in Germany under the Markets in Crypto-Assets Regulation.

The company announced that all cryptoasset trading for
German clients will be conducted directly through eToro EU, ending the use of
DLT Finance for trading services on the platform.

Tangany Keeps Custody, Trading Requires Consent

Clients will need to accept revised Terms and Conditions to
continue trading. A notification will appear upon login to confirm acceptance.

Digital
assets meet tradfi in London at the fmls25

Those who do not accept will lose access to trading
services, but their existing holdings will remain in custody with Tangany GmbH.
Assets may also be withdrawn to another custodian, subject to Tangany’s
procedures.

eToro EU Keeps Custody, May Expand

The company said custody arrangements remain unchanged at
this stage, though eToro EU may provide custody in the future. Any such change
will be announced in advance.

eToro also noted that while it is MiCA-authorized, it is not
classified as a MiCA trading platform where trades occur directly between
buyers and sellers. Instead, eToro acts as the counterparty, and transactions
may take place outside regulated venues.

eToro Adds Cryptoassets, New Deposits, EU Compliance

eToro recently expanded
its cryptoasset offering by adding five new tokens: LayerZero, ZKsync,
Pyth, EigenLayer, and Swell. The additions include Layer-2 and DeFi solutions,
with EigenLayer and Swell classified as experimental and subject to trading
limits.

These assets are not available to users in the U.S., UAE,
Germany, or Australia. The platform continues to provide access to over 100
cryptoassets while operating under MiCA and MiFID regulations to maintain
compliance and investor protection.

In addition, eToro
has introduced new deposit options for European users, allowing funding via
credit card or bank transfer in eight local currencies. The platform has also
reduced foreign exchange fees.

In the UK, eToro launched a DIY ISA alongside its existing
managed ISA, giving clients access to over 1,000 assets for self-directed or
professionally managed investing. Separately, eToro Group has filed for a US
IPO with the SEC, following an earlier SPAC merger attempt in 2021 that was
later abandoned.

This article was written by Tareq Sikder at www.financemagnates.com.

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