eToro Acquires Zengo for $70M to Integrate Self-Custodial Crypto Wallet Technology

Zengo, a leading self-custodial crypto wallet provider, has been acquired by eToro, a global multi-asset investment platform. Zengo develops a keyless wallet architecture powered by multi-party computation (MPC) cryptography, enabling secure self-custody of cryptocurrency without traditional private keys. eToro announced the acquisition on April 15, 2026. eToro acquired Zengo in this transaction valued at $70 million.

Acquisition Overview

eToro entered an agreement to acquire Zengo on April 15, 2026. The deal lists $70 million as the amount raised by Zengo from eToro. The acquisition combines eToro’s multi-asset platform with Zengo’s non-custodial wallet. eToro stated this move deepens digital asset capabilities and connects traditional finance to on-chain infrastructure.

Yoni Assia, co-founder and CEO of eToro, said the deal accelerates Zengo’s growth. eToro aims to offer users choice in digital asset access through self-custody.

Ouriel Ohayon, co-founder and CEO of Zengo, noted the partnership scales self-custody globally. Zengo integrates with eToro’s ecosystem to bridge on-chain and traditional finance. eToro users experience no immediate changes. Future integration plans include access to decentralized products like prediction markets, perpetuals, and yield options.

About Zengo

Zengo was founded in 2018 and uses MPC cryptography. The company provides a self-custodial crypto wallet known for its keyless security, making it easier and safer for users to manage their digital assets. Zengo supports on- and off-ramp services, token swaps, staking, and decentralized applications, offering a full-service experience for crypto users in one place. These features deliver a comprehensive and convenient experience, simplifying self-custody for everyday consumers.

About eToro

eToro operates a global social investment platform connecting millions of users. eToro acquired Zengo to expand self-custodial crypto offerings. The platform enables trading in stocks, cryptocurrencies, commodities, and more. eToro features tools like copy trading alongside its multi-asset brokerage. Headquartered in Israel, eToro serves users worldwide. The acquisition strengthens eToro’s position in digital assets and tokenized markets.

Funding History

Zengo secured funding across multiple rounds before the acquisition.

• M&A, April 15, 2026: eToro invested $70 million.
• Strategic, November 20, 2025: MoonPay invested (amount undisclosed).
• Strategic, February 11, 2025: Tether led the investment in Zengo, with participation from Anatoly Yakovenko, Benson Oak Ventures, Elron Ventures, and Insight Partners (amount undisclosed).
• Series A, April 27, 2021: Insight Partners led the round, with participation from Distributed Global and Austin Rief Ventures, which invested $20 million in Zengo.
• Seed, October 2, 2018: Benson Oak Ventures led the round, with participation from SamsungNext, FJ Labs, Elron Ventures, Blocknation, and Jonathan Smith, who invested $4 million in Zengo.

Total known funding prior to acquisition totaled $24 million. The M&A brings Zengo’s cumulative capital to $94 million.

Market Context

Self-custodial wallets meet growing demand for user-controlled crypto storage. Zengo’s MPC technology reduces security vulnerabilities common in traditional wallets.

eToro’s move reflects industry convergence between centralized platforms and decentralized tools. The deal targets emerging areas like prediction markets and perpetuals trading. Acquisitions in crypto infrastructure continue to accelerate innovation, as seen in industry developments such as SOL Strategies Acquires Darklake Labs, highlighting the broader trend of strategic consolidation in the digital asset ecosystem. This transaction positions eToro to support tokenized assets and on-chain finance evolution.