eToro has agreed to acquire Zengo, a self-custodial crypto wallet provider, to deepen its digital asset capabilities and connect traditional finance with on-chain infrastructure.
The deal brings together eToro's multi-asset platform and global distribution with Zengo's non-custodial wallet technology, as eToro moves to broaden its digital asset offering and accelerate its strategy of bridging traditional financial services with on-chain infrastructure.
Keyless wallet architecture and MPC technology
Zengo has established itself in the self-custody space through its use of multi-party computation (MPC) cryptography, which underpins a keyless wallet architecture designed to improve security while simplifying the user experience. The platform offers a broad range of functionality, including on- and off-ramp capabilities, token swaps, staking, and access to decentralised applications.
The acquisition is intended to support Zengo's continued growth whilst expanding eToro's capacity to address emerging digital asset use cases. These include tokenised assets and decentralised trading models such as prediction markets and perpetuals, segments that remain in early stages of market development.
Strategic context and market positioning
The deal reflects a broader industry shift towards self-custody as regulatory clarity around digital assets gradually improves in key markets, and as institutional and retail demand for on-chain financial products continues to grow. For eToro, integrating a dedicated self-custodial wallet strengthens its ability to serve users who wish to retain direct control over their digital assets, alongside its existing custodial offering.
eToro also noted continued momentum in its wider business. Commodity trading accounted for 60% of trading commissions by asset class in the first quarter of 2026, with commodities trading volume approximately four times higher year-on-year. The company attributed this growth to shifting global macroeconomic conditions and its expansion of 24/7 trading, including gold and oil.
Yoni Assia, Co-founder and CEO of eToro, noted the expectation that finance will become increasingly digital and decentralised, with self-custody playing a role in that shift, and described the acquisition as a means to accelerate Zengo's growth whilst offering users greater choice in how they access digital assets.
Moreover, Ouriel Ohayon, Co-founder and CEO of Zengo, stated that the partnership would enable the wallet provider to expand its mission of making self-custody accessible at a global scale, whilst connecting its on-chain capabilities to a broader investing ecosystem.
Financial terms of the transaction were not disclosed. No regulatory approval timeline has been provided at this stage.
