The last year has seen eToro rising up significantly in the cryptocurrency market, with Assia- the CEO- explaining that they have grown almost 147% of their year-over-year revenues. And this has provided a boost to the company for this year where crypto bull markets are working in tandem with mainstream media. The CEO believes this is a perfect storm for the company with both investment platforms and social media debating and discussing crypto markets.
eToro Has An Established List of Plans That Will Help Them Be Public
eToro will join an elite group of other cryptocurrencies which have recovered quickly from a price decline that began almost at the same time as COVID concerns last year. Most of the mainstream markets too rallied around the previous year- but with Bitcoin picking up the heat later in the year- there has been a major continuation in the bull markets along with mainstream society.
The 16th of March saw the company announcing their plans of getting their operation to be rendered public through a SPAC- or a special-purpose acquisition company. To put this in context, this is a form of a merger in which a company made private is combined with a public company. This allows the previously private company to turn public without taking recourse to a public offering.
Assai states that when one’s business is growing faster than it was previously thought of- the best thing to do would be to be prepared for what is to come. And as it can be understood- they are quite elated about the next step that eToro is about to embark upon. As reports claim, eToro has already displayed its intention to merge with a SPAC called Fintech V. The CEO notes that they would be merging with the company and then purchasing it whole to list it under eToro.