eToro, a social trading platform, has announced it will become a publicly traded company through business combination with FinTech Acquisition Corp. V (NASDAQ: FTCV). According to a press release, the combined company will operate under the eToro Group Ltd. title.
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eToro CEO, Yoni Assia, says the collaboration is a momentous milestone for eToro as the company embarks on its journey to become a publicly traded company with Betsy Cohen and the team at FinTech V.
The collaboration will bring the company's valuation to nearly $10.4 billion. As iHodl earlier reported, eToro warned its customers about possible restrictions on order execution. According to eToro, the unprecedented demand for crypto, coupled with limited liquidity, presented challenges to its ability to support buy orders as the WallStreetBets mania reached its peak.
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