eToro Launches Spot Trading Services for Cryptocurrency in Germany

BlockBeats news, on September 24, multi-asset investment platform eToro expanded its cryptocurrency products in Germany by launching spot trading services. Previously, German users could only trade cryptocurrency contracts for difference (CFDs) on the platform.

eToro announced that it has partnered with two local companies regulated by BaFin to support spot cryptocurrency trading services, of which DLT Finance will be responsible for spot trading execution and Tangany will be responsible for digital asset custody. Under the new arrangement, German traders will interact with DLT Finance as their counterparty, and Tangany will hold their cryptocurrency assets on behalf of eToro.

To trade, users need to agree to the terms of service of the three entities (eToro, DLT Finance and Tangany), and eToro plans to charge a 1% fee on crypto asset transactions.

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