Trading platform eToro has announced plans to list on the stock market. The crypto-friendly firm could be valued as high as $5 billion. Financial Times People familiar with the issue were quoted on Thursday.
It was reported in the newspaper that eToro has submitted to the SEC confidential documents regarding an initial Public Offering.
According to the report, eToro founder and CEO Yoni Assia said last year that listing in the U.S. would be better for the company's global investors.
eToro declined comment to Decrypt The report.
Set up in Israel in 2007, eToro's platform allows users to trade stocks and cryptocurrencies. According to the website, it first permitted Bitcoin trading in 2013, before adding other cryptocurrencies. According to its website, it first allowed Bitcoin trading in 2013 before introducing other cryptocurrencies. The FT eToro is a company that manages assets worth $11.3 billion.
Last year, eToro paid a $1.5M fine to the SEC after the regulator alleged that it operated in violation of the law. "an unregistered broker and unregistered clearing agency in connection with its trading platform that facilitated buying and selling certain crypto assets as securities" To U.S. clients
eToro has removed a few cryptocurrencies following the suit, leaving Bitcoin, Ethereum and Bitcoin Cash.
Andrew Hayward is the editor