eToro has agreed to acquire crypto wallet provider Zengo in a deal valued at about $70 million, marking a major step toward integrating self custody into its platform.
Key Takeaways
- eToro is acquiring Zengo for around $70 million to strengthen its digital asset ecosystem.
- Zengo’s self custodial wallet uses multi party computation to remove seed phrases and improve security.
- The deal supports on chain finance growth, including tokenized assets and decentralized trading models.
- No immediate impact on users, but deeper product integration is expected in the near future.
What Happened?
eToro has entered into an agreement to acquire Zengo, a leading self custodial crypto wallet provider, as part of its broader strategy to expand digital asset capabilities. The deal, reported by Bloomberg at around $70 million, is subject to customary closing conditions.
The acquisition brings together eToro’s global multi asset platform with Zengo’s secure wallet technology, aiming to bridge traditional finance with blockchain based systems.
Big news! eToro is acquiring @ZenGo a leading self-custody crypto wallet.
— eToro (@eToro) April 15, 2026
This acquisition moves us closer to the intersection of traditional finance and the on-chain economy, bringing Zengo’s pioneering MPC technology to the eToro family.
Read more about our vision for the…
eToro Pushes Into Self Custody and On Chain Infrastructure
The acquisition reflects a growing shift in how major trading platforms approach crypto. Self custody, once considered separate from mainstream brokerage services, is now becoming central to the future of digital finance.
eToro plans to integrate Zengo’s wallet infrastructure directly into its platform. This will allow users to manage their assets with greater control while still accessing eToro’s trading ecosystem.
Yoni Assia, Co-founder and CEO of eToro, said:
The company also highlighted that the move will help support emerging use cases such as:
- Tokenized assets
- Prediction markets
- Perpetual trading products
- Yield generating opportunities
This signals a broader ambition to connect traditional investing tools with on chain financial systems.
What Zengo Brings to the Table?
Founded in 2018, Zengo has built a strong reputation in the crypto space through its keyless wallet architecture, which removes the need for traditional seed phrases. Instead, it relies on multi party computation cryptography, a method designed to improve both usability and security.
Zengo offers a full suite of services including:
- Token swaps and staking.
- On ramp and off ramp capabilities.
- Access to decentralized applications.
The platform has attracted more than 2 million users across over 180 countries and reports zero wallet hacks since launch, a notable milestone in the crypto security space.
Ouriel Ohayon, Co-founder and CEO of Zengo, said:
Strategic Timing and Market Expansion
The timing of this acquisition highlights a broader industry trend. As decentralized finance and tokenized markets continue to evolve, platforms like eToro are positioning themselves to stay competitive by bringing these capabilities in house.
eToro has already been expanding aggressively:
- The company went public on Nasdaq and reported strong performance.
- It enabled crypto trading in New York after securing a BitLicense.
- It continues to grow its user base, now exceeding 40 million registered users across 75 countries.
By adding Zengo’s technology, eToro is not just enhancing its product stack but also reshaping how users interact with digital assets.
What This Means for Users?
For now, there will be no immediate changes for existing eToro users. However, the company has confirmed plans to integrate Zengo’s wallet experience into its platform.
In the near future, users can expect:
- Easier access to self custody solutions.
- A wider range of decentralized financial products.
- A more seamless connection between trading and blockchain based services.
This could significantly reduce the gap between centralized exchanges and decentralized finance tools.
CoinLaw’s Takeaway
I think this move shows exactly where the crypto industry is heading. In my experience, users have always been forced to choose between convenience and control. What eToro is trying to do here is combine both in a single platform, and that is a powerful shift.
I found the most interesting part is how wallets are no longer just storage tools. They are becoming the backbone of the entire investing experience. If eToro executes this well, it could change how millions of users interact with crypto without needing to leave a familiar platform.
