eToro has made significant strides in the United Arab Emirates by launching crypto deposit capabilities, enabling users to transfer nine major cryptocurrencies into their accounts. This development allows clients to convert their crypto holdings into USD, which can then be utilized across eToro”s extensive multi-asset trading platform.
The newly introduced feature includes popular cryptocurrencies such as Bitcoin, Ethereum, XRP, and USDC. By allowing these deposits, eToro not only facilitates easier access to digital assets but also aims to capture liquidity from external wallets and exchanges, enhancing its presence in the growing Middle Eastern market.
In conjunction with the crypto deposit launch, eToro has rolled out its stock-cashback program in the UAE. This initiative offers users a 1% cashback in local equities when they convert their cryptocurrencies into USD. The promotion, which runs until March 2026, incentivizes clients to engage more deeply with local markets, specifically targeting companies listed on the Abu Dhabi Securities Exchange and the Dubai Financial Market.
This strategic move by eToro signifies its commitment to operating within regulated environments, having secured the necessary permissions from the Financial Services Regulatory Authority of the Abu Dhabi Global Market. The clear regulatory framework in the UAE aligns well with eToro”s multi-asset broker model, making it an attractive market for the company”s growth ambitions.
eToro”s expansion into the UAE represents a pivotal moment in its broader strategy to intertwine cryptocurrency with traditional financial markets. By enabling crypto deposits and offering attractive rewards in local equities, eToro is positioning itself as a key player in the competitive digital asset landscape, while also enhancing its reputation in regulated markets.
This development is not just a win for eToro, but also for UAE investors looking to diversify their portfolios through cryptocurrency and traditional equity markets. As the digital asset ecosystem continues to evolve, eToro”s latest offerings reflect a growing recognition of the importance of integrating these two worlds.
