eToro to Buy Zengo

eToro agreed to buy crypto-wallet company Zengo, pushing the trading platform deeper into self-custody and decentralized finance. (investors.etoro.com) The deal was announced April 15, 2026, and Bloomberg reported it is worth about $70 million, mostly in cash. eToro said the purchase is still subject to customary closing conditions. (bloomberg.com) (investors.etoro.com) Zengo makes a self-custodial wallet, which means users hold and manage their own crypto instead of leaving it with an exchange or broker. Its app supports buying and selling, token swaps, staking, and access to decentralized applications. (investors.etoro.com) (zengo.com) The technical piece eToro is buying is Zengo’s “keyless” wallet system, built with multi-party computation, a method that splits control into separate pieces instead of relying on one seed phrase. Zengo says that design removes the usual seed-phrase backup that many wallet users can lose or have stolen. (investors.etoro.com) (zengo.com) eToro said the acquisition is aimed at tokenized assets and newer on-chain markets, including prediction markets and perpetuals, as those products develop. That puts a mainstream trading app closer to the tools crypto users typically access through separate wallets and decentralized platforms. (investors.etoro.com) The timing also matters for eToro itself. Globes reported this is the company’s first acquisition since its Nasdaq listing in 2025, and eToro’s own IPO filing process began in May 2025. (en.globes.co.il) (etoro.com) Zengo was founded in 2018, and its consumer pitch has been simpler crypto storage without the usual seed-phrase burden. On its site, the company says it has secured more than 2 million wallets since 2018. (investors.etoro.com) (zengo.com) eToro Chief Executive Yoni Assia said self-custody will play “an important role” in a financial system that is becoming more digital and decentralized. Zengo Chief Executive Ouriel Ohayon said the tie-up gives the wallet company broader global distribution through eToro’s platform. (investors.etoro.com) The deal leaves eToro with a clearer choice to offer customers both brokerage custody and user-controlled wallets under one brand. That is where the company says it wants to connect traditional investing with on-chain finance. (investors.etoro.com)