eToro agrees to acquire Zengo to expand digital asset capabilities

By Aarav Garg

eToro has agreed to acquire Zengo, a self-custodial crypto wallet firm, as part of its efforts to expand its digital asset capabilities.

The deal brings together eToro’s multi-asset tr’ading platform with Zengo’s non-custodial wallet technology, supporting both companies’ growth strategies. It is expected to strengthen eToro’s ability to bridge traditional financial services with blockchain-based infrastructure and the wider crypto ecosystem.

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. 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 also positions eToro to support emerging digital asset use cases, including tokenised assets and decentralised trading models such as prediction markets and perpetual contracts.

“From day one, Zengo has focused on making self-custody simple and secure for everyday users,” said Ouriel Ohayon, Co-founder and CEO of Zengo. “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.”

Founded in 2018, Zengo specialises in multi-party computation (MPC) cryptography and offers a keyless wallet designed to improve security while simplifying self-custody. Its platform includes features such as fiat on- and off-ramps, token swaps, staking and access to decentralised applications.

The transaction reflects continued consolidation in the digital asset sector as platforms expand their product offerings.