eToro Will Issue Its Own Debit Cards
Broker eToro has announced plans to issue debit cards. The British clients of the company will be able to receive them first, then the possibility of pre-order will appear for EU residents, as well as for everyone from other countries.
It is known that the purchased eToro Marq Millions will be the issuer of debit cards. The company is a member of Visa and is licensed as an electronic money operator. The amount of the deal has not been announced. Marq Millions will be renamed eToro Money. The broker promised that the current management of the company will retain their positions. According to inside information, eToro will receive an EMI license from the FCA regulator and the status of a member of the Visa.
The broker claims that thanks to the new card, the deposit and withdrawal of funds will be instant. Thus, traders will get another effective way to withdraw earned funds in fiat. Co-founder of the company Yoni Assia said that expected a great interest in the product from traders. Note that the release of the card was planned back in the second quarter of 2020, but due to the coronavirus pandemic, the deadlines are being delayed.
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