eToro Expands Crypto Wallet Services for UK and EU Users

eToro has announced that users in the UK and Europe can now transfer cryptoassets from external platforms to their eToro Crypto Wallet.

The update, effective March 24, 2025, allows users to deposit Bitcoin and Ethereum, convert them into GBP or EUR, and use the funds for trading, withdrawals, or spending via their eToro account or debit card.

Doron Rosenblum, EVP of Business Solutions at eToro, highlighted the growing interest in crypto-based investing:

“We’ve seen a new generation of people get into investing through crypto. As they mature as investors and look for ways to use their cryptoassets for trading and investing, eToro is well-equipped as a multi-asset platform to help them put their crypto to work, explore new investment opportunities, and build diversified portfolios.”

Initially, the crypto deposit and conversion feature will be available to eToro Club Diamond members in the UK and Europe, with a phased rollout to other members.

This expansion follows eToro (Europe) Ltd. securing regulatory approval from the Cyprus Securities Exchange Commission (CySEC) under the Markets in Crypto-Assets Regulation (MiCA). The permit, granted on February 19, 2025, enables eToro to offer crypto services across the EU, subject to notifying all EEA member states.

eToro is one of several cryptocurrency exchanges that are adapting to the MiCA regulatory framework, which aims to establish clearer guidelines for the European crypto market. On January 27, 2025, OKX announced that it had received a MiCA license which allows it to offer localized crypto services to over 400 million users across 28 EEA countries. Crypto.com also expanded its cross-border crypto services to all EEA member states in February 2025 after obtaining a full MiCA license from the Malta Financial Services Authority (MFSA).

Separately, Binance has been adjusting its listings to comply with the new regulatory environment, including changes to its platform offerings under MiCA rules.

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