Digital Assets: Why is eToro Acquiring Zengo Wallet?
Crypto trading and investment platform eToro announces it has entered into an agreement to acquire self-custodial crypto wallet provider Zengo.
The deal is set to deepen eToro’s digital asset capabilities as the firm continues its strategy of connecting traditional financial systems with on-chain infrastructure and the wider crypto-native economy.
By combining eToro’s global multi-asset distribution with Zengo’s specialised non-custodial technology, the acquisition aims to support Zengo’s next growth phase.
For eToro, the move reinforces its capacity to handle evolving digital asset use cases, such as tokenised assets and emerging decentralised trading models – including prediction markets and perpetuals – as these sectors mature.
A shift towards decentralised finance
Zengo, founded in 2018, is a pioneer in multi-party computation (MPC) cryptography. It is best known for its keyless wallet architecture, which is designed to enhance security for users without the complexity traditionally associated with self-custody.
Yoni Assia, Co-founder and CEO of eToro, says: “We believe the future of finance will be increasingly digital, decentralised and user-controlled, with self-custody playing an important role in that evolution.
“Zengo has built an innovative and secure wallet experience, and this acquisition will enable us to accelerate its growth while continuing to provide users with choice in how they access digital assets.”
The acquisition allows eToro to integrate a full-service crypto experience that includes on- and off-ramp capabilities, token swaps, staking and access to decentralised applications.
These features make what Zengo claims to be “of the most comprehensive consumer self-custodial solutions in the market”.
Yoni continues: “As we often say, crypto downtimes are the time to build, and this acquisition reflects that long-term approach. At the same time, we continue to demonstrate the strength of our diversified business model.
“We’ve seen strong capital market activity so far this year, with commodity trading accounting for 60% of trading commissions by asset class in Q1 2026, with commodities trading volume nearly 4x higher year over year.
“This growth was driven by shifting global macro dynamics, our standing as a top-tier global multi-asset platform, and our strategic expansion of 24/7 trading, including gold and oil.”
Bridging the investment ecosystem
The integration of Zengo’s MPC technology provides a secure entry point for retail investors who want to move beyond simple trading and into the realm of on-chain finance.
By removing the private key hurdle, Zengo has simplified the process for everyday users to manage their own digital wealth.
Ouriel Ohayon, Co-Founder and CEO of Zengo, notes: “From day one, Zengo has focused on making self-custody simple and secure for everyday users. Joining eToro allows us to accelerate that mission at a global scale.
“Together, we can expand access to self-custody and on-chain finance while connecting it to a broader investing ecosystem that bridges traditional and on-chain finance.”
The partnership is a natural progression for the start-up, which has spent years refining its keyless security model to serve a global audience.
eToro, founded in 2007, currently serves over 40 million registered users across 75 countries. Combining its services with Zengo Wallet, trusted by over two million individuals in over 180 countries allows it to enable further access to decentralised finance.