eToro has ceased its cryptocurrency custody services in Germany.

BlockBeats reported on January 3rd that eToro, a multi-asset investment platform, announced that the custody of its clients' crypto assets in Germany will be transferred to a Munich-based crypto custody service provider, Tangany GmbH, starting from January 21st, 2024. Tangany GmbH is regulated by the German Federal Financial Supervisory Authority (BaFin). After the transfer, eToro Germany will stop providing crypto asset custody services. Clients can still sell or transfer their crypto assets to another custody institution through the eToro platform. The transfer process is scheduled to begin on January 21st, 2024 and is expected to be completed before January 29th, 2024. During this period, clients will not be able to access their crypto assets.