eToro has agreed to acquire crypto wallet provider Zengo in a deal reportedly worth about $70 million. The move brings self-custody tools closer to eToro’s trading platform. It also linked eToro’s multi-asset investing network with Zengo’s non-custodial wallet. The companies said the deal will help support tokenized assets and decentralized markets, including prediction platforms and perpetual futures. The transaction still faces closing conditions.
The acquisition marks a deeper move into crypto infrastructure for eToro. The company tied the deal to a long-term plan around digital finance. It said self-custody will play an important role as finance becomes more digital, decentralized, and user-controlled.
Yoni Assia, eToro’s co-founder and chief executive, said the company sees market slowdowns as time to build. He said the acquisition reflected that approach. He also said the deal would help eToro accelerate Zengo’s growth while preserving user choice in digital asset access.
At the center of the deal is Zengo’s non-custodial wallet. A non-custodial wallet lets users hold their own funds by controlling wallet access directly. That model differs from custodial services, where a platform holds assets on a user’s behalf. In this case, Zengo’s wallet will remain separate from eToro’s regulated services.
Zengo, founded in 2018, built its wallet around multi-party computation, or MPC, cryptography. The company uses that design to secure user funds without a seed phrase. That structure aims to reduce common risks tied to lost or stolen keys.
The wallet also offers a wide set of crypto features. Those services include token swaps, staking, fiat onramps, and access to decentralized applications. As a result, Zengo already operates as a broad consumer self-custody product rather than a simple storage wallet.
Ouriel Ohayon, Zengo’s co-founder and chief executive, said the company has focused on making self-custody simple and secure for everyday users since its early days. He said joining eToro will help expand that mission at a global scale. He added that the partnership can connect self-custody and on-chain finance to a broader investing ecosystem.
The timing matters because crypto remains central to eToro even as the company points to a wider business mix. eToro said it now has more than 40 million registered users across 75 countries. That reach gives the company a broad base for any expansion in digital asset services.
At the same time, the company pointed to strong capital markets activity in early 2026. It said commodity trading accounted for 60% of trading commissions across asset classes in the first quarter. It also said commodity trading volume rose nearly four times from a year earlier. eToro linked that growth to shifting macro conditions and expanded 24/7 trading in gold and oil.
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Still, the numbers in the text show that crypto remains a major part of the business. Cointelegraph cited eToro’s 2025 total revenue of $13.8 billion and income of $12.98 billion coming from crypto assets.
The deal, therefore, combines two ideas inside one transaction. First, eToro wants deeper exposure to infrastructure tied to digital assets. Second, it wants that exposure while keeping a diversified trading model across asset classes.
For Zengo, the transaction opens access to a much larger platform and global audience. For eToro, the deal adds a wallet built around MPC security and keyless design. Together, the companies are tying self-custody, on-chain access, and multi-asset investing into one broader strategy.
eToro’s move to acquire Zengo shows that self-custody is becoming more important in mainstream crypto services. The deal adds MPC wallet technology, supports tokenized assets, and strengthens eToro’s broader digital asset strategy. The key takeaway is clear: major platforms are building deeper crypto infrastructure for long-term growth.