Trading platform eToro is preparing to go public in a move that could lead to the value of the cryptocurrency-friendly company reaching $5 billion. Financial Times People familiar with the matter said Thursday.

The publication reported that eToro has filed confidential regulatory documents with the US Securities and Exchange Commission for an initial public offering.

According to the report, eToro founder and CEO Yoni Asia said last year that a US listing would be better for the company's global investors.

eToro declined to comment Decryption About the report.

Established in Israel in 2007, eToro allows users to trade stocks and cryptocurrencies. Allowed for the first time Bitcoin Trading in 2013 before other cryptocurrencies were introduced, according to its website. the foot He added that eToro manages total assets worth $11.3 billion.

Last year, eToro agreed Settle fees with the Securities and Exchange Commissionpaid a $1.5 million fine after the regulator alleged it operated “an unregistered broker and an unregistered clearing agency in connection with its trading platform that facilitated the purchase and sale of certain crypto assets as securities” for US clients.

eToro has removed a number of cryptocurrencies from its US platform in the wake of the lawsuit, leaving only Bitcoin, Ethereumand Bitcoin Cash.

Modified by Andrew Hayward