eToro’s $70M Acquisition of Zengo: A Game Changer for Crypto Custody Services!

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eToro Acquires Zengo for $70M to Expand Crypto Self-Custody Services

Key Highlights

  • eToro has agreed to acquire Zengo, a pioneer in self-hosted wallets, in a deal reportedly valued at $70 million (mostly cash).
  • The move allows eToro to offer “keyless” security, eliminating the traditional seed phrase vulnerability for its global user base.
  • Beyond simple storage, the integration supports eToro’s push into tokenized assets, prediction markets, and perpetual contracts.

eToro, a platform for investing in various assets including cryptocurrency, is buying Zengo, a company that provides cryptocurrency wallets. The purchase, announced on April 15, 2026, will help eToro improve its cryptocurrency services, especially those that give users more control over their own digital assets.

eToro announced it’s acquired Zengo to meet the increasing demand for users who want more control over their cryptocurrency. Zengo confirmed the news on X, stating they will keep providing secure wallet services as part of the eToro family. According to Zengo, they plan to continue developing and running the popular, secure crypto wallet that millions already use.

Exciting news! Zengo is teaming up with eToro, a leading global platform for trading stocks and cryptocurrencies.

Since we started in 2018, Zengo has been dedicated to improving and setting high standards for how crypto is safely stored and used.

Together with eToro, we’ll be working to…

— Zengo Wallet (@ZenGo) April 15, 2026

As of today, neither company has shared the financial details or expected completion date of the deal. It’s also currently unknown how the two companies will be integrated. However, a source speaking with Bloomberg reports the deal is rumored to be worth around $70 million, primarily paid in cash.

Self-custody strategy drives expansion

eToro is combining its trading platform with Zengo’s wallet technology, giving users greater control over their cryptocurrencies and other digital assets. This will also enable eToro to offer new features like tokenized assets and advanced trading tools, including options for prediction markets and perpetual contracts.

As someone researching the future of finance, I’ve been following eToro’s direction with great interest. Their CEO, Yoni Assia, has clearly stated their belief that finance is moving towards being more digital, decentralized, and ultimately, controlled by the user. A key part of this, he emphasized, is giving users control of their own assets – what’s known as self-custody. Because of this, eToro is currently investing heavily in building the infrastructure to bridge the gap between traditional financial markets and the world of blockchain technology.

Zengo uses advanced technology called multi-party computation to make your wallet more secure by removing the need for a traditional private key. With this wallet, you can easily swap tokens, participate in staking, and connect to decentralized applications.

Industry shift toward crypto infrastructure control

This decision reflects a rising trend in the industry: companies are increasingly handling all aspects of crypto trading, from offering the service to building the underlying technology. This approach can create new opportunities for revenue.

We’re seeing major crypto companies expand their services. For example, Robinhood purchased Bitstamp in 2025 to strengthen its crypto licensing and offerings for institutions. Crypto.com partnered with Exodus to provide secure storage for crypto, and Ripple bought Hidden Road to offer brokerage services, with plans to also create a digital wallet. This trend means competition is now focused on companies building complete crypto platforms, rather than just offering individual services.

eToro stated that users won’t see any changes right away. They intend to add new features and connections slowly over time.

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2026-04-15 15:01