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

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2026-04-16 13:04:03

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eToro, the global trading platform valued at $3 billion, has acquired self-custody wallet startup Zengo for approximately $70 million. The move signals eToro's strategic pivot toward decentralized finance (DeFi) infrastructure and user-controlled digital assets.

Zengo's MPC-based wallet technology eliminates private key vulnerabilities while enabling token swaps, staking, and direct access to dApps. This acquisition positions eToro to compete in emerging markets like tokenized assets and prediction markets.

The deal reflects growing institutional recognition of self-custody solutions as critical infrastructure for the next phase of crypto adoption. With Zengo's tech stack, eToro can now offer traders seamless transitions between custodial and non-custodial asset management.

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