eToro Acquires Self-Custody Crypto Wallet Firm Zengo for $70 Million

Decrypt Agent

Wed, April 15, 2026 astatine 11:40 AM CDT 2 min read

Trading level eToro has entered into an agreement to get self-custodial crypto wallet supplier Zengo—a woody that Bloomberg reports was worthy $70 million, paid mostly successful cash—combining its 40 cardinal registered users with Zengo's keyless wallet technology.

The acquisition brings unneurotic eToro's planetary trading infrastructure with Zengo's multi-party computation (MPC) cryptography, which has powered unafraid wallet services for implicit 2 cardinal individuals and businesses crossed 180+ countries since 2018.

“We judge the aboriginal of concern volition beryllium progressively digital, decentralized and user-controlled, with self-custody playing an important relation successful that evolution,” said eToro co-founder and CEO Yoni Assia, successful a statement. “Zengo has built an innovative and unafraid wallet experience, and this acquisition volition alteration america to accelerate its maturation portion continuing to supply users with prime successful however they entree integer assets.”

“As we often say, crypto downtimes are the clip to build, and this acquisition reflects that semipermanent approach,” helium added.

Assia said that commodity trading represents 60% of the platform's trading commissions by plus people arsenic of Q1 2026—with volumes astir 4 times higher twelvemonth implicit year, according to the announcement.

Zengo antecedently raised $20 cardinal successful a Series A circular successful 2021, yet raising a full of $24 cardinal per information from Crunchbase. The startup's investors see Insight Partners and Tether, and Zengo has besides acquired stablecoin-focused wallet Minke to grow its offerings.

eToro shares are up much than 6% truthful acold Wednesday, precocious trading hands astatine $36.80. Shares are up much than 18% successful the past week, rising alongside galore different crypto firms arsenic the marketplace shows signs of recovery.

In 2024, the institution settled charges with the SEC implicit operating an unregistered broker and clearing bureau for crypto assets, and agreed to lone connection U.S. traders Bitcoin, Ethereum, and Bitcoin Cash arsenic portion of the agreement. However, the institution has vastly expanded its crypto offerings to U.S. customers since, nether President Trump’s crypto-friendly regulatory push.