USDeToro to Acquire Zengo for $70 Million to Expand Self-Custody Push
Deal targets integration of MPC wallet into broader trading platform
TL;DR
- eToro agreed on April 15, 2026 to acquire Zengo, a self-custodial crypto wallet provider.
- The deal is valued at $70 million, mostly in cash.
- The move aims to support tokenized assets, prediction markets and perpetuals.
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eToro agreed on April 15, 2026 to acquire Zengo, a self-custodial crypto wallet provider, in a move aimed at expanding its digital asset capabilities. Bloomberg reported the deal is valued at $70 million and will be paid mostly in cash, positioning the platform to deepen its role in user-controlled crypto infrastructure.
The acquisition connects eToro’s global multi-asset platform with Zengo’s non-custodial wallet technology. The combined setup is intended to support emerging digital asset use cases, including tokenized assets, prediction markets and perpetual trading products, as financial services continue shifting toward decentralized systems.
Zengo, founded in 2018, developed a wallet based on multi-party computation cryptography with a keyless architecture designed to improve both security and usability. The wallet supports on- and off-ramps, token swaps, staking and access to decentralized applications.
Zengo scale, security record and product expansion
Zengo serves more than 2 million individuals and businesses across 180+ countries, and no Zengo wallet has been hacked since 2018. Its product suite includes Zengo Pro, which offers advanced features such as Bitcoin Vaults and inheritance-style tools, and Zengo Business, which provides multi-user wallet solutions for SMB and enterprise clients.
Yoni Assia, co-founder and CEO of eToro, said, “We believe the future of finance will be increasingly digital, decentralized and user-controlled, with self-custody playing an important role in that evolution.” He added that Zengo had built “an innovative and secure wallet experience” and that the acquisition would accelerate growth while preserving flexibility in how users access digital assets.
Ouriel Ohayon, co-founder and CEO of Zengo, said, “From day one, Zengo has focused on making self-custody simple and secure for everyday users.” He said joining eToro would enable broader global expansion while connecting self-custody capabilities with a wider investing ecosystem bridging traditional and on-chain finance.
Strong commodity trading growth alongside deal
The acquisition comes as the platform reports strong performance in non-crypto segments. Assia said commodity trading accounted for 60% of trading commissions by asset class in Q1 2026, with trading volume nearly four times higher year over year. The increase was linked to macro conditions and expanded 24/7 trading availability, including gold and oil.
The transaction remains subject to customary closing conditions. The platform reports more than 40 million registered users across 75 countries, offering a larger distribution base for Zengo if the deal is completed.
Zengo said it will continue to operate and develop its wallet following the acquisition and will keep pushing “the boundaries of what can be done in crypto and finance,” signaling continuity for its existing product.
FAQ
What is eToro acquiring?
Zengo, a self-custodial crypto wallet provider.
How much is the deal worth?
$70 million, according to Bloomberg.
What technology does Zengo use?
Multi-party computation cryptography with a keyless wallet architecture.
Will Zengo continue operating?
Yes, it said it will continue building and running its wallet.
This article has been refined and enhanced by ChatGPT.
