eToro launches cryptocurrency spot trading service in Germany

ChainCatcher news, according to FinanceFeeds, eToro has expanded its cryptocurrency offerings in Germany by launching a spot trading service, whereas previously German users could only trade cryptocurrency contracts for difference (CFDs) on the platform. eToro announced that it has partnered with two local companies regulated by BaFin to support the spot cryptocurrency trading service, with DLT Finance responsible for spot trade execution and Tangany handling 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 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 cryptocurrency transactions.