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eToro plans banking‑license moves and payment expansion, reducing crypto lending exposure as fintech charter applications surge to 14 in 2025.
eToro’s CEO Yoni Assia said the platform will prioritize payments and may seek a banking licence, moving away from crypto‑lending as it eyes new acquisitions and a $70 million Zengo deal [1].
| At a glance | |
|---|---|
| New focus | Payments services, possible banking licence |
| Recent acquisition | Zengo for $70 million (April 2024) |
| FinTech charter wave | 14 new de novo applications in 2025, matching prior four‑year total |
| Strategic intent | Acquire two wealth‑tech firms (U.S. and abroad) to grow wealth offering |
Assia told the Financial Times that eToro is “very acquisitive,” targeting two wealth‑technology businesses—one in the United States and another overseas—to broaden its wealth‑offering and global footprint [1]. The company’s recent $70 million purchase of crypto firm Zengo was aimed at bolstering tokenised‑asset and decentralized‑trading capabilities, but Assia emphasized that future deals will lean toward payments rather than credit products [1]. He added that a banking licence, or even buying a bank, could be on the table to support this shift.
The move aligns with a surge in fintech firms applying for U.S. banking charters after regulatory easing under the Trump administration. In 2025, the Office of the Comptroller of the Currency received 14 de novo charter applications—nearly the total it had received in the preceding four years combined [1]. Recent approvals include Latin America’s Nu and U.K.‑based Revolut, both planning U.S. banking operations [1]. Many of these applicants seek licences that enable specific functions, such as payments, rather than full‑service banking, suggesting a sector‑wide pivot away from traditional lending.
| Token/Metric | Detail |
|---|---|
| Zengo acquisition cost | $70 million |
| 2025 charter applications | 14 (≈ prior 4‑year total) |
eToro’s pivot underscores a growing belief that the future of digital finance will be built on payments and self‑custody, leaving crypto‑lending to a narrower niche unless lenders secure comparable regulatory footholds. The sector now faces the question: can crypto lenders adapt to a payments‑first landscape, or will they be edged out by fintechs gaining banking licences?
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 17, 2026 · How we report
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Clients retain control of their Bitcoin private keys, and the collateral is held in a segregated vault with no rehypothecation, only moved in liquidation events.
The SEC has sued platforms like BlockFi, Genesis Global Capital, and Gemini for offering unregistered securities, and regulators criticize labeling crypto deposits as savings accounts.
Analysts say that clearer rules and enforcement are needed for lenders to market products responsibly and regain investor confidence.