eToro Launches Crypto Spot Trading Service in Germany

eToro has expanded its cryptocurrency offering in Germany by launching a spot trading service, after German users could previously only trade cryptocurrency contracts for difference (CFDs) on the platform. The company announced that it has partnered with two local companies regulated by BaFin to support spot cryptocurrency trading services, with DLT Finance responsible for spot trade execution and Tangany responsible for digital asset custody. Under the new arrangement, German traders will interact with DLT Finance as their counterparty, while Tangany will hold their cryptocurrency assets on behalf of eToro. To trade, users will need to agree to the terms of service of the three entities (eToro, DLT Finance and Tangany), and eToro plans to charge a 1% fee on crypto asset transactions. (Financefeeds)