Trading platform eToro is preparing to go public in a move that could see the crypto-friendly company valued at $5 billion, the Financial Times statement Thursday, citing people familiar with the matter.
The publication said that eToro had filed confidential regulatory documents with the SEC in the US for an initial public offering.
According to the report, eToro founder and CEO Yoni Assia said last year that a US listing would be better for the company's global investors.
eToro declined to comment Decryption about the report.
Founded in Israel in 2007, the eToro platform allows users to trade stocks and cryptocurrencies. It first allowed Bitcoin trading in 2013 before introducing other digital currencies, according to its website. The FT he said that the eToro manages $11.3 billion in total assets.
Last year, eToro agreed to settle charges with the SEC, paying a $1.5 million fine after the regulator said it had “operated an unregistered broker and an unregistered clearinghouse in connection with to their trading platform that facilitated the buying and selling of certain crypto assets as securities” to US Customers.
eToro removed several cryptocurrencies from its American platform after the lawsuit, leaving only Bitcoin, Ethereum, and Bitcoin Cash.
Edited by Andrew Hayward
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