ChainCatcher reported that according to Bloomberg, British digital bank Revolut Ltd. is spinning off its 8.5 billion euro ($9.5 billion) wealth management products into an independent application, Revolut Invest, seeking to compete with companies such as Robinhood and eToro for a larger share of the retail investor market.

The Revolut Invest app will initially offer nearly 5,000 assets, including US and European stocks, exchange-traded funds, commodities and bonds, as well as new products such as CFDs.

The app, which is currently being tested in Greece, Denmark and the Czech Republic, will be launched in other European Economic Area countries by the end of the year, with plans to double the number of assets available for trading, Rolandas Juteika, Revolut’s regional head of wealth and trading, said in an interview.