Russian well-known bank Sberbank set a partnership with an investment social network eToro, putting 5 million traders together from 140 countries. Parties reached an agreement on developing and launching a joint venture in Russia.
This joint venture is focused at both groups – trades, who are professional, as well as on traders, who are only beginning to gain some experiences. This new project is about to be converted into a professional social network and perform trading operations with leading companies’ stocks, currencies, commodities and indices. There will be also further benefits for the joint venture’s clients if they work with eToro through Sberbank’s remote channels.
Herman Gref, the CEO and Chairman of the Executive Board of Sberbank, stated: “The partnership between Sberbank and eToro will enable our clients to take advantage of the vast potential of eToro’s trader community. The eToro platform features a simple interface, which supports trading in global financial markets, using the knowledge and experience of other traders. This year we plan to establish a joint venture for serving clients in Russia.”
In 2015, eToro launched a Russian version of its next generation trading platform with integrated innovational and intuitive trading instruments.
Yoni Assia, the CEO and founder of eToro, added: “We are pleased that our partnership with Sberbank will enable us to provide access to our services to the clients of the largest Russian bank, as well as to offer an alternative financial instrument and innovational platform for investments in financial markets”.
Since its introduction to the market in 2008, eToro has made its reputation as social trading market leader, a what was later confirmed at FinovateEurope 2015, an expo of premier innovation in finance and banking technology, where the company won an award in the Best of Show category. The company’s CEO and founder Yoni Assia has been included in the Financial News FinTech40 list of influential people.
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