- The investment firm is reportedly planning to launch a debit card in the second quarter of 2020.
- The firm’s 12 million users can spend their earnings through the debit card.
eToro, a multi-asset investment platform is allegedly planning to introduce a debit card in the second quarter of the upcoming year. According to a Business Insider report, eToro’s 12 million users can spend their earnings through the debit card. Reportedly, the service will get launched in the UK first. Other details about the card remain unclear.
eToro had conducted a survey in September on generational investment among 1,000 online investors in the US. The survey suggested that 40% of millennials would prefer to invest in crypto assets in the event of a recession.
Guy Hirsch, managing director of eToro US, said at the time:
We believe that if a recession were to occur, we’d see shrinking stock portfolios and growth in other asset classes like crypto, as well as new fractional ownership models. Historically, these investment opportunities have been limited to high net worth and institutional investors, but innovation is unlocking these opportunities for everyday investors and clearly, these results indicate that the demand is there.
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