Trading 212 Taps Marqeta to Launch Debit Card in 20 European Countries

United Kingdom-based Trading 212, the retail trading platform, has partnered with Marqeta to introduce its debit card in 20 countries across continental Europe.

Trading 212 Launches Debit Card in Europe

Announced today (Wednesday), this launch follows a year after Trading 212 introduced its debit card to the UK market. The card will offer European customers zero FX and account fees, along with a 0.5 per cent cashback reward on spending.

“We’re aiming to make the stock market more accessible, giving over 3 million customers in the UK and Europe access to investment opportunities that were not easily accessible before,” said Mukid Chowdhury, CEO of Trading 212. “The Trading 212 card, powered by Marqeta, is an extension of our brand and helps keep Trading 212 at the forefront of our customers' daily spending.”

Marqeta’s involvement allows Trading 212 to simplify the process of launching debit cards, enabling faster implementation compared to starting from scratch.

Trading 212 utilises Marqeta’s fraud prevention tools, including Real-Time Decisioning powered by AI, to flag high-risk transactions and alert users to potential fraud in real-time. The platform also uses 3D Secure, an added security feature requiring cardholders to verify their identity during payments.

“With our scalable platform, Marqeta enables innovative brands like Trading 212 to reduce time to market and capitalise on strong demand for stock trading,” said Marcin Glogowski, SVP and Managing Director, Europe, and UK CEO at Marqeta.

Diversifying Revenue Streams

Trading 212, founded in Bulgaria in 2004 as Avus Capital and incorporated in the UK in 2013, focuses primarily on the UK and the European Union. It generates revenue from three entities: one in the UK and two in Cyprus and Bulgaria, respectively.

While the platform has historically offered contracts for differences (CFDs), it is now shifting focus to stockbroking and, with the introduction of debit cards, diversifying into payments.

Last year, Trading 212 acquired a crypto license in Cyprus, although it has not disclosed specific plans in the cryptocurrency sector. It closed its German entity in 2022 and migrated client funds to the UK and the Cypriot entity. Recently, it resumed onboarding German clients after acquiring local CFDs broker FXFlat.