eToro has agreed to buy crypto wallet company Zengo in a deal valued at about 70 million dollars, marking a clear move beyond simple trading access and deeper into self-custody infrastructure. The acquisition combines eToro’s global multi-asset platform with Zengo’s non-custodial wallet technology, which is built around multi-party computation rather than traditional seed phrases. Company statements frame the deal as a way to expand eToro’s digital asset capabilities while giving it stronger tools for the next phase of onchain finance.
The logic behind the purchase is broader than wallet storage alone. eToro said the acquisition is meant to support evolving digital asset use cases such as tokenized assets and decentralized trading models, including prediction markets and perpetuals. That suggests the company sees self-custody not as a side feature, but as part of the infrastructure it will need if trading continues shifting toward onchain rails and users want more direct control over their assets.
Zengo brings a specific kind of product to that strategy. Its wallet removes the need for a seed phrase and instead uses MPC-based key management, which is meant to lower the risk of key loss or theft while still preserving a non-custodial model. For eToro, that offers a way to give users more direct ownership of crypto without forcing them into the full complexity of traditional self-custody setups. In practical terms, it helps bridge the gap between mainstream investment apps and the more technical world of DeFi-style asset control.
The timing is also important. eToro is expanding just as regulated firms are trying to position themselves for tokenized assets, wallet-based finance and more onchain settlement. By buying Zengo instead of building slowly from scratch, eToro gets a working self-custody stack, an experienced team and a faster route into that market. That makes the 70 million dollar price tag look less like a simple wallet acquisition and more like a strategic bet on where digital asset infrastructure is headed next.





































































































