[Digital Today reporter Chi-gyu Hwang] Trading platform eToro has started providing cryptocurrency services to customers in New York about three years after securing a BitLicense.

According to a recent report by The Block, Andrew McCormick (앤드류 맥코믹), head of eToro's U.S. unit, said the company will first offer about 20 tokens within New York's regulatory framework and then expand gradually.

eToro offers about 115 cryptocurrencies and various asset classes including stocks, exchange-traded funds (ETFs), indices, currencies and commodities across 74 countries and 47 other U.S. states. It also plans to add staking in New York.

eToro obtained a virtual currency business activity licence, known as a BitLicense, from the New York State Department of Financial Services in February 2023. Fewer than 40 companies have received a BitLicense since it was introduced in 2015, and some have not launched services after obtaining it. Some companies, such as Kraken, have given up entering New York altogether.

McCormick said, "I didn't know it would take 3 years after obtaining it," and added, "We aimed to launch within 1 year, but in any case I am grateful that we have started the service." He also stressed that eToro is the first company to obtain a BitLicense after the collapse of FTX.