Retail broker Trading 212 has acquired a Crypto Asset Services Provider (CASP) license in Cyprus.
The license means that the Bulgarian headquartered company can offer ‘physical’ crypto trading services to clients in the European Union.
Currently Trading 212 offers cash equities and CFD trading to clients. The firm has seen huge growth in the UK over the last five years, largely on the back of being the first company to offer trading in stocks without dealing fees.
The company recently added a payments card and e-wallet to its offering and has plans to offer options trading this year. Earlier this year the broker also opened its first office in Australia, with plans to expand there.
The product offering means that the company is transitioning into becoming the sort of ‘super app’ that many firms are currently aiming towards.
However, it’s unclear how much of this is about building new revenue streams, versus adding products that can help reduce marketing costs.
