In a strategic move to capture the burgeoning financial technology market in the Middle East, eToro has introduced cryptocurrency deposits in the United Arab Emirates (UAE), allowing users to transfer digital assets from external wallets and exchanges into eToro’s platform. This initiative, launched in November 2025, also comes with a stock cashback program designed to encourage local traders to diversify their portfolios.
With this launch, UAE-based investors can now transfer nine major cryptocurrencies, including Bitcoin, Ethereum, and XRP, into their eToro Crypto Wallet. Once deposited, these digital assets can be converted into US dollars for use across the platform. The company is incentivizing this new feature by offering a 1% cashback in UAE-listed stocks on all conversions, with a cap of $1,000 monthly. This promotion is set to last until March 31, 2026.
Doron Rosenblum, the Executive Vice President of Business Solutions at eToro, emphasized the growing trend among young investors who initially entered the market through cryptocurrencies and are now seeking diversified investment opportunities. To participate, users must opt into the program and select stocks from a curated monthly list on the Abu Dhabi Securities Exchange or the Dubai Financial Market.
eToro’s venture into the UAE is part of its broader strategy to integrate cryptocurrency gains into traditional financial markets. In the second quarter of 2025, eToro’s revenue was overwhelmingly driven by cryptocurrency trading, which comprised $1.91 billion of the platform’s total $2.09 billion earnings, accounting for 91% of the revenue. In contrast, equities and commodities accounted for only $114 million.
The company has observed a significant increase in cryptocurrency trades, which surged 49% year-over-year to 10.7 million transactions in July and August, with average trade sizes nearly doubling to $345. Meanwhile, traditional markets such as equities and commodities saw a modest 3% growth, with 87.7 million trades and an average size increase of 4% to $273.
In 2025, eToro maintained a high concentration in cryptocurrency, which constituted 93% of its $3.76 billion first-quarter revenue, slightly decreasing to 91% in the third quarter. Assets under administration rose sharply to $19.7 billion by August, marking a 77% increase from the previous year, while funded accounts grew by 15% to 3.69 million.
The stock cashback program made its debut in Europe and the UK in early November 2025. There, users received 1% back in regional equities when converting crypto deposits into pounds or euros. This initiative, similar to the UAE offering, will run until the end of March 2026, with a monthly cap of £1,000 for UK users and €1,000 for European clients. The list of eligible cryptocurrencies was also expanded to include tokens like Chainlink, Aave, Uniswap, Polygon, and Fetch.ai.
George Naddaf, managing director of eToro MENA, underscored the enthusiasm of UAE investors, noting that more than 90% of them are confident in the long-term prospects of local firms. He highlighted that this new program would enable investors to align their crypto investments with opportunities in the local market.
eToro’s journey in the UAE began in November 2023 after receiving a license from the Financial Services Regulatory Authority of Abu Dhabi Global Market to operate as a broker for securities, derivatives, and cryptoassets. By February 2025, the platform had incorporated over 30 stocks from the Abu Dhabi Securities Exchange, covering 88% of the exchange’s market capitalization.
The newly introduced crypto deposit feature is built on eToro’s earlier partnership with Lean Technologies, announced in September 2025, which facilitated instant AED bank transfers within the UAE. This partnership allows users to link their eToro accounts to local banks, enabling seamless deposits directly through the platform.
In addition to these developments, eToro has rolled out a monthly Club subscription priced at five dollars, offering 4% cashback, access to an AI analyst tool, and higher yields on crypto staking. The company has also expanded local currency deposit options across European markets and integrated UAE PASS for smoother onboarding.
However, there are potential risks associated with such rapid expansion into the UAE market. The crypto sector is known for its volatility, and a sudden drop in cryptocurrency values could impact investor sentiment and the success of eToro’s initiatives. Moreover, regulatory changes in the burgeoning UAE fintech landscape could pose unforeseen challenges to eToro’s operations.
To take advantage of the cashback promotion, users must convert their deposits within the stipulated period and choose from eToro’s monthly stock list. The 1% reward is then directly added to their trading portfolios, providing an incentive for diversifying investments.
As eToro continues to establish itself in the UAE and other global markets, its focus on integrating innovative fintech solutions with traditional investment avenues reflects a significant shift in the approach to personal finance, catering to a new generation of tech-savvy investors. While the long-term impacts of such strategies remain to be seen, eToro’s efforts could potentially reshape the investment landscape in the region.
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