eToro has become one of the select few companies to operate under the New York BitLicense, which allows firms to conduct crypto business in the state.
The company will initially offer around 20 digital tokens within New York's regulatory framework, but plans to expand its token listings and introduce staking services in the future.
eToro received a Virtual Currency Business Activity License from the New York State Department of Financial Services in February 2023, but only began operations this week after completing internal preparations.
Andrew McCormick, Head of eToro U.S., attributed the three-year gap between approval and launch to increased scrutiny following the collapse of FTX during the approval process.