eToro to Acquire Zengo in $70M Deal to Deepen Self-Custody Push

Highlights:

• eToro is set to acquire Zengo, strengthening eToro’s self-custody and on-chain finance strategy.
• Zengo adds keyless MPC wallet technology, staking, swaps, and decentralized app access.
• The deal follows eToro’s wider push into tokenized assets, futures, and U.S. growth.

Leading trading platform eToro has agreed to buy self-custodial wallet provider Zengo, adding wallet infrastructure to its digital asset strategy. According to the press release, the deal links eToro’s trading platform with Zengo’s wallet technology and access. Although eToro did not disclose terms, Bloomberg reported a value of about $70 million, mostly in cash. The transaction still requires standard closing conditions.

eToro Brings Self-Custody to the Platform with Zengo Acquisition

The move gives eToro a direct entry into self-custody as crypto platforms widen their product stacks. As a result, the company can support tokenized assets, prediction markets, perpetuals, and yield products. The deal marks a clear shift toward services beyond basic brokerage and ties eToro’s multi-asset offering more closely to blockchain infrastructure.

Big news! eToro is acquiring @ZenGo a leading self-custody crypto wallet.

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 (@eToro) April 15, 2026

Moreover, the acquisition joins eToro’s global reach with Zengo’s wallet design, which removes seed phrases through MPC cryptography. Since 2018, Zengo has built a wallet that focuses on security and ease of use. The product includes token swaps, staking, decentralized application access, and on- and off-ramp functions. Zengo has also served more than 2 million users worldwide without recording a wallet hack since launch.

A Stronger Push Toward on-chain Finance

Chief executive Yoni Assia framed the purchase as part of a larger change in financial services. Assia said digital finance will become more decentralized and more user-controlled over time. He also added that self-custody remains an important part of that shift, especially as users want more choice. Therefore, eToro sees Zengo as a technology asset and growth platform.

Co-founder and chief executive Ouriel Ohayon also commented on the move, saying the company had focused on simple and secure self-custody since its launch. He said joining eToro should help Zengo scale faster across global markets and reach more everyday users. Moreover, the tie-up connects self-custody tools with a wider investing ecosystem that blends traditional finance and on-chain services.

For eToro users, the company expects no immediate changes after signing the agreement. Meanwhile, eToro said it plans to integrate both experiences over time. This process is expected to make access to more decentralized products across the platform easier.

The Zengo Deal Aligns with eToro’s Ongoing Expansion

The acquisition arrives during a wider expansion phase for eToro. The company went public on Nasdaq last year and later reported stronger profitability as crypto derivatives trading lifted results. Earlier this month, it restarted crypto trading in New York after securing a BitLicense.

In July last year, eToro launched 24/5 trading for 100 U.S. stocks and exchange-traded funds. It also outlined plans for tokenized U.S. equities as ERC-20 tokens on Ethereum and partnered with CME to offer spot-priced futures and secured a $250 million, three-year credit facility. 

eToro announced 24/5 trading for 100 U.S. stocks and ETFs, and plans to launch tokenized U.S. equities as ERC20 tokens on Ethereum. The company also partnered with CME to offer spot-priced futures and secured a $250 million three-year credit facility for strategic expansion.…

— Wu Blockchain (@WuBlockchain) July 29, 2025

Crypto plays a major role in eToro’s operations. The company reported total revenue and income of $13.8 billion in Q4 of last year, while crypto assets contributed $12.98 billion in revenue. These figures show digital assets remain central to its growth story. Now, with Zengo in the picture, eToro gains another tool as it builds for a more on-chain market.