Trading and investing platform eToro has officially entered into an agreement to acquire Zengo, a self-custodial crypto wallet provider. The acquisition brings together eToro’s global, multi-asset distribution platform with Zengo’s advanced non-custodial wallet technology.
According to eToro, the transaction is designed to accelerate its broader strategy of connecting traditional finance with on-chain infrastructure. It will also strengthen the platform’s ability to support evolving digital asset use cases as markets develop, including tokenized assets and emerging decentralized trading models like prediction markets and perpetuals.
Simplifying self-custody
Founded in 2018, Zengo is widely known as a pioneer in multi-party computation (MPC) cryptography. The firm provides a keyless wallet architecture explicitly designed to enhance security while simplifying self-custody for consumers. Because it is powered by MPC cryptography, Zengo has no seed phrase vulnerability; the firm notes that no Zengo wallet has ever been hacked since its inception.
Zengo currently offers a comprehensive self-custodial solution that features:
Ouriel Ohayon, co-founder and CEO of Zengo, emphasized the shared vision behind the acquisition.
“From day one, Zengo has focused on making self-custody simple and secure for everyday users,” Ohayon said. “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.”
Building during crypto downtimes
Yoni Assia, co-founder and CEO of eToro, noted that self-custody will play an increasingly important role in the digital, decentralized, and user-controlled future of finance.
“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,” Assia stated.
He added: “As we often say, crypto downtimes are the time to build, and this acquisition reflects that long-term approach.”
Assia also highlighted the current strength of eToro’s diversified business model. He revealed that strong capital market activity led to commodity trading accounting for 60 per cent of trading commissions by asset class in the first quarter of 2026. Furthermore, commodities trading volume was nearly four times higher year-over-year. Assia attributed this surge to shifting global macro dynamics and the strategic expansion of 24/7 trading for assets like gold and oil.
The acquisition deal remains subject to customary closing conditions. eToro noted that Zengo’s non-custodial wallet will remain a separate product from eToro’s regulated exchange services.
