Trading and investing platform eToro has integrated UAE PASS, the United Arab Emirates’ national digital identity solution, into its onboarding process, in a move to streamline account creation and enhance user verification for customers in the UAE.
The new feature allows UAE residents to register on eToro using the UAE PASS mobile app, enabling automatic retrieval of verified Proof of Identity (POI) and Proof of Address (POA) data. According to the company, this eliminates the need for manual document uploads, accelerating the onboarding process and bolstering security.
UAE PASS simplifies registration
“This is a major milestone in simplifying the onboarding experience and advancing in our vision to open the global markets for everyone to trade and invest in a simple and transparent way,” said George Naddaf, Managing Director at eToro MENA. “By integrating a trusted local identity solution, we’re removing key friction points and adding another layer of trust and convenience for our UAE community.”
The integration comes as the UAE continues its rapid transition toward digital-first financial services. A survey commissioned by eToro and conducted by research firm Appinio found that 87 per cent of UAE retail investors currently use fintech platforms to manage their finances. Of those, 26 per cent rely solely on fintech providers, while another 36 per cent conduct the majority of their financial activities through such platforms.
The survey, conducted between November 27 and December 2, 2024, sampled 1,000 retail investors residing in the UAE. Respondents were defined as individuals who are either self-directed or advised and hold at least one investment product.
eToro said the UAE PASS integration is part of its broader localisation strategy in the region. Previous initiatives have included the launch of an Abu Dhabi office and the addition of stocks listed on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) to its platform.
Launched as a joint initiative by the Telecommunications and Digital Government Regulatory Authority (TDRA), Abu Dhabi Department of Government Support and Digital Dubai, UAE PASS serves as the country’s unified digital identity. The app enables secure access to services across government, semi-government and private entities and supports digital signatures and authentication of official documents. In 2019, the UAE Central Bank endorsed UAE PASS for use within the financial services sector.
The latest phase of UAE PASS development incorporates blockchain technology and allows users to request digital versions of official documents, further reducing the need for physical paperwork and in-person verification.
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