Multi-asset broker eToro said on Tuesday that Singapore residents can now verify their accounts using Singpass, the country’s national digital identity system.
The integration lets users pull verified identity data directly into eToro’s onboarding flow, removing the need to manually upload identification documents. eToro said the process takes a few steps.
“By using your Singpass, the same trusted digital identity you use to access government services, you’ll be able to verify your account in just a few steps, no documents to upload, and no delays to getting started,” the company said in a post on its site.
Once verified, users gain access to stocks, commodities, currencies and other assets on the platform, according to the post.
The move is a distribution upgrade rather than a new market entry. eToro Singapore Pte. Ltd. already holds a Capital Markets Services licence (CMS101824) from the Monetary Authority of Singapore. Singpass is widely used across government and private-sector services in Singapore, and MAS has previously backed Singpass-based verification in financial services security contexts.
eToro said it has more than 40 million registered users globally. The company has been building out its Singapore operation with local licensing, educational content and regulated product access for retail investors.
