eToro (NASDAQ: ETOR) has rolled out cryptocurrency deposits in the United Arab Emirates (UAE), joining several platforms in the region to allow users to move digital assets from external wallets and exchanges. Additionally, local traders can benefit from the same stock cashback program that the company introduced in the UK and Europe a few weeks ago.
Users in the UAE can now transfer nine cryptocurrencies including Bitcoin, Ethereum, XRP, USDC, Chainlink, Aave, Uniswap, Polygon, and Fetch.ai to the eToro crypto wallet, then convert their holdings to USD for trading across the platform.
To promote the new features, the company will return 1% of UAE-listed shares on conversion up to $1,000 per month until March 31, 2026.
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Doron Rosenblum, eToro Vice President of Business Solutions, Source: LinkedIn
“Many young users have started investing through cryptocurrencies and are now looking for simple and seamless ways to diversify into other asset classes,” said Doron Rosenblum, executive vice president of business solutions at eToro.
Users must opt-in to the program and choose from a monthly list of stocks traded on the Abu Dhabi Stock Exchange or Dubai Financial Market.
Digital assets generate 9 out of 10 revenues
The UAE launch expands on eToro’s broader efforts to funnel crypto profits into traditional markets, with digital asset trading accounting for the majority of the company’s revenue. Of the platform’s $2.09 billion in second-quarter revenue, cryptocurrencies accounted for $1.91 billion, or 91% of the total. Stocks and commodities brought in just $114 million in profit during the same period.
Cryptocurrency trades in July and August increased 49% year-on-year to 10.7 million trades, and the average trade size nearly doubled to $345. Traditional capital markets activity grew 3%, with stock and commodity trades reaching 87.7 million, with the average size rising 4% to $273.
This concentration remains stable until 2025. Cryptocurrencies accounted for 93 percent of eToro’s $3.76 billion in revenue in the first quarter, but declined slightly to 91 percent in the third quarter. Assets under management in August reached $19.7 billion, an increase of 77% from a year ago, and reserve accounts rose 15% to $3.69 million.
Benefits program debuts after rollout in Europe
eToro launched its first stock cashback model in the UK and Europe on November 6th, giving users 1% back in UK or European stocks when they deposit cryptocurrencies and exchange them for pounds or euros. The promotion runs until the same March deadline and has a monthly cap of £1,000 for UK users and €1,000 for European users.
George Nadav, Managing Director, MENA eToro
The company has expanded the range of cryptocurrencies covered in both markets beyond Bitcoin and Ethereum, adding the same seven tokens currently available in the UAE. George Nadaf, managing director of eToro MENA, said more than 90% of UAE-based investors expressed confidence in the long-term performance of local companies.
“This will give UAE investors more ways to connect their crypto investments to opportunities in the local market,” he added.
eToro entered the UAE market in November 2023 after receiving approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market to operate as a broker for securities, derivatives and crypto assets. The platform added over 30 stocks from Abu Dhabi Securities Exchange in February 2025, accounting for 88 per cent of the exchange’s market capitalization.
Deposits are built on payment partnerships
The cryptocurrency deposit feature follows eToro’s partnership with Lean Technologies in September to enable instant AED bank transfers in the UAE. With this integration, users can now link their eToro account to their local bank and complete deposits in seconds without leaving the app.
In early November, eToro introduced a $5 per month Club subscription, offering 4% cash back, AI analyst tools, and higher yields on crypto staking. As part of its regional expansion, the company has added local currency deposit options across European markets and integrated UAE PASS to streamline onboarding.
Users must convert their deposit within the promotional period and select stocks from eToro’s monthly list to receive the 1% reward. This reward is added directly to your trading portfolio.
