Payment card issuer Marqeta (NASDAQ: MQ) is supporting London-based online broker Trading 212’s launch into 20 countries across continental Europe.
The partnership involves the introduction of the Trading 212 debit card, which offers zero foreign exchange and account fees, along with 0.5% cashback rewards that can be reinvested on the platform.
The new Marqeta-powered card allows over 3 million customers in the UK and Europe to integrate their spending and investing activities.
With certifications in over 40 countries, Marqeta simplifies market entry by removing the need for localized operations. Additionally, the platform offers fraud prevention features, including Real-Time Decisioning and 3D Secure.
Mukid Chowdhury, CEO of Trading 212, said: “We’re aiming to unlock the stock market, giving over 3 million customers in the UK and Europe access to investing capabilities that haven’t been easily accessible in the past. The Trading 212 card, powered by Marqeta, is an extension of our brand and helps keep Trading 212 top of mind for our customers in their day to day spending.”
Marcin Glogowski, SVP and Managing Director of Europe at Marqeta, added: “Our platform enables brands like Trading 212 to accelerate their time to market and respond to increasing demand for stock trading. We aim to reduce the complexity of payments so customers like Trading 212 can focus on growth.”
Trading 212 was the first retail UK broker to offer commission-free trading and its core product portfolio consists of stocks, ETFs, FX, and derivatives products.
In terms of CFD products, the company operated from January 2021 to May 2021 on a spread revenue model, profiting from the difference between the prices offered to clients and those on which hedging trades were conducted via a back-to-back hedging agreement with a group affiliate.
From May 2021 onwards, T212 opted to end this arrangement to manage its own risk based on defined parameters for each product and asset class, hedging exposures outside of these with third parties.
Earlier in August, Trading 212 acquired FXFlat Bank GmbH, a multi-asset broker based in Germany and regulated by BaFin. The financial terms of the deal have not been disclosed.
