eToro To Launch Its Own Debit Card In 2020

eToro, the multi-asset investment platform and social network (you’ve probably seen their YouTube ads) have been supposedly been planning to release its very own debit card in the first half of 2020.

At the end of last week, reports surfaced that the United Kingdom-based trading platforms millions of users will be able to spend their earnings through this new card a debit card.

Nevertheless, the service is reported to be launching in the UK at first. That being said, nothing else is all that clear with other details about this planned debit card being scarce, to say the least.

Debit cards

The global head of PR & communications at the trading platform, Amy Butler confirmed that the firm is working hard on getting this debit card launched next year. When asked on more details of the card, couldn’t provide any, however.

Earlier in the year, eToro cited a survey on generational investment conducted among a thousand online investors in the United States. This suggests that less than half of the people of the millennial generation would rather invest in crypto in the event of a recession. 

Managing director, Guy Hirsch of eToro has said:

“We believe that if a recession were to occur, we’d see shrinking stock portfolios and growth in other asset classes like crypto, as well as new fractional ownership models. Historically, these investment opportunities have been limited to high net worth and institutional investors, but innovation is unlocking these opportunities for everyday investors and clearly, these results indicate that the demand is there.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!