eToro intends to explore augmented and virtual reality (AR/VR) realms, as revealed by CEO Yoni Assia in an interview with CNBC.
The company, renowned for its trading platform covering various assets such as stocks, ETFs, and cryptocurrencies, seeks to lead in financial services by potentially establishing a virtual store accessible through Apple Vision Pro and Meta Quest devices.
Assia stressed the strategic importance of artificial intelligence (AI) and expressed intentions to integrate voice interaction features within the app, aiming to enhance user accessibility and engagement.
However, he highlighted AR and VR technologies as key priorities for eToro’s future endeavours.
The CEO hinted at integrating natural language processing and VR capabilities into the app’s functionalities throughout 2024, indicating a significant shift towards immersive trading experiences.
Although Assia refrained from providing a definite timeline for the launch of an AR experience, he affirmed eToro’s commitment to exploring and investing in AR/VR technologies as crucial elements of its business strategy.
Recognising the early stage of VR adoption in financial services, Assia pointed out technical limitations and user readiness as potential challenges in realising the full potential of AR/VR-based trading platforms.
Nevertheless, eToro remains optimistic about the long-term prospects of immersive trading experiences.
The envisioned AR app, designed for advanced traders, could potentially utilise AI capabilities to offer personalised assistance and streamline the investment decision-making process, thereby enhancing user engagement and effectiveness.
“This is still in very initial discussions,” Assia noted, but added he believes the firm could be ready to showcase a prototype “in a couple of months.”