eToro Acquires Zengo for $70 Million in 2026 to Bolster Crypto Offerings
On April 15, 2026, eToro, a prominent social trading and multi-asset brokerage company, announced its acquisition of Zengo, a leading self-custodial crypto wallet provider, for approximately $70 million, primarily in cash. This strategic move aims to bridge traditional finance with on-chain infrastructure and enhance eToro’s cryptocurrency services.
Key Highlights of the Acquisition
Strategic Rationale:
The acquisition is designed to integrate Zengo’s advanced multi-party computation (MPC) technology into eToro’s ecosystem. MPC offers a “keyless” wallet experience, eliminating the need for traditional seed phrases and enhancing security for users. This technology will provide eToro’s 40 million users with secure access to on-chain activities.
Regulatory Approach:
Zengo’s self-custodial services will operate outside of eToro’s MiCA (Markets in Crypto-Assets) regulated framework. This strategic separation allows eToro to offer access to decentralized finance (DeFi), staking, and dApps without the regulatory constraints associated with its primary exchange license.
Operational Integration:
Zengo will maintain operational independence to preserve its non-custodial status while its technology will be integrated into eToro’s broader platform.
Zengo’s Profile:
Founded in 2018, Zengo has over 2 million users across 180 countries. It is recognized for its robust MPC security architecture, which has prevented any wallet hacks to date.
Leadership Commentary:
- Yoni Assia (eToro CEO): Emphasized that the acquisition reflects eToro’s belief in a digital, decentralized, and user-controlled financial future.
- Ouriel Ohayon (Zengo CEO): Stated that joining eToro will enable Zengo to scale its mission of providing simple and secure self-custody solutions globally.
Post-Nasdaq Listing:
This acquisition marks eToro’s first major move as a public company, following its successful Nasdaq listing in May 2025.
Sources
- MENA Fintech (https://www.menafintech.org/)
- Fintech Futures (https://www.fintechfutures.com/)
- The Fintech Times (https://www.thefintechtimes.com/)