Exchange platform eToro is coming off a stellar twelvemonth of growth, as novice traders seek new pathways into the fiscal markets, including cryptocurrency.

The online brokerage firm ended 2020 with gross revenue of $600 million, with total trading volume surging 40% to $ane.5 trillion.

Describing his firm equally a technology company and multi-regulated broker, CEO Yoni Assia said:

"The final few years have seen a rapid growth in eToro'southward headcount reflecting both our global expansion and the growth of our product offering and client base."

eToro has operated a successful social trading platform for a number of years, assuasive novice traders to access forex, commodity and equity markets. In 2019, the platform expanded into digital assets past launching a crypto exchange and eight branded stablecoins.

The introduction of digital asset services is partly responsible for eToro's rapid growth over the past year. Earlier this month, the exchange warned users that crypto trading may become limited because of "unprecedented demand."

The alert came on the heels of Bitcoin (BTC) cracking new all-time highs near $42,000 and the broader cryptocurrency marketplace hit a $1 trillion valuation for the first time.

Assia said 2020 was a "big year for stocks," just that 2021 has then far been "dominated by crypto headlines." He claims crypto trading volumes at his house are up more than 25 times compared with the aforementioned catamenia concluding year.

eToroX, the company's digital nugget platform, reportedly generated $670 million in volume on Tuesday, according to CoinMarketCap. That puts it in the top 20 largest exchanges by volume.

According to Finance Magnates, eToro's secondary marketplace valuation has surged to over $2.5 billion, having more than tripled since 2018.