- eToro, a Nasdaq-listed trading platform, will acquire Israeli self-custody crypto wallet provider Zengo for an estimated $70 million.
- The acquisition secures keyless multi-party computation (MPC) infrastructure for eToro to support tokenized assets and decentralized trading models.
- The deal is eToro’s second acquisition since its $4.2 billion public listing, signaling a broader brokerage strategy to internalize on-chain retail architecture.
eToro Acquires Crypto Wallet Zengo for $70 Million
eToro, the Nasdaq-listed retail trading and brokerage network, has agreed to acquire Israeli cryptocurrency wallet provider Zengo. The transaction, valued at an estimated $70 million, was announced on April 15, 2026. This marks eToro’s second corporate acquisition since its initial public offering last May.
Zengo, founded in 2018, operates a self-custodial crypto wallet utilizing multi-party computation (MPC) cryptography. The startup previously raised $24 million from venture capital entities including Insight Partners and Tether. The wallet’s keyless architecture distributes private keys across servers to remove single points of failure.
Expanding On-Chain Capabilities
eToro executives stated the acquisition aims to support emerging digital asset frameworks. The firm plans to utilize Zengo’s infrastructure for tokenized assets, prediction markets, and perpetuals. The integration connects eToro’s centralized multi-asset distribution with decentralized finance protocols.
“We believe the future of finance will be increasingly digital, decentralized and user-controlled, with self-custody playing an important role in that evolution,” eToro CEO Yoni Assia said in a press release. He noted the acquisition allows the firm to construct crypto infrastructure during market downtimes.
Market Consolidation and Infrastructure Value
The purchase highlights a consolidation phase within the retail digital asset sector. Brokerages that previously offered closed-loop crypto trading are now absorbing standalone wallet providers to control the underlying technology stack. Competitors across the retail brokerage sector have executed similar acquisitions over the past two years to secure digital asset infrastructure.
Corporate representatives confirmed Zengo’s non-custodial wallet will remain a separate product from eToro’s regulated exchange services. Users will continue to interact directly with third-party protocols for decentralized applications, token swaps, and staking.
“Joining eToro allows us to accelerate that mission at a global scale,” Zengo CEO Ouriel Ohayon stated regarding the transaction. Specific integration timelines and executive retention terms remain undisclosed pending customary closing conditions.
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