eToro acquired Marq Millions, an FCA authorized white-label debit card issuer, for an undisclosed amount. The acquisition will result in rebranding the original company to “eToro Money,” which will serve as the basis for an e-money business venture.
Through the acquisition, eToro gains control over the EMI license and VISA membership of the original company, providing them with a fast track to market.
Pending approval from the FCA, these debit cards will be made available over the next few months to eToro Club members in the UK, followed by the rest of Europe, and eventually to non-eToro users globally.
All members of the original Marq Millions team will join eToro and continue their work under eToro’s umbrella.