eToro has entered into an agreement to acquire Zengo, a self-custodial crypto wallet provider, in a move that would give the public trading platform a more direct foothold in wallet software and on-chain activity.

What was announced

In its April 15 release, eToro said the deal will pair its multi-asset investing platform with Zengo's non-custodial wallet stack. The company said the acquisition is meant to support digital asset use cases including tokenized assets and decentralized trading models such as prediction markets and perpetuals.

Zengo, founded in 2018, uses multi-party computation rather than a seed phrase, and eToro said the wallet will remain separate from its regulated exchange services. That distinction matters because the Web3 activity available through the wallet, including swaps, staking, and decentralized applications, would sit outside eToro's regulated brokerage perimeter. The company also said Zengo serves more than 2 million users.

Why it matters

The more notable shift is distribution. eToro already operates a large retail trading network, while Zengo brings a consumer wallet product built around self-custody instead of exchange balances. If the transaction closes, eToro would gain a clearer path from brokerage-style crypto access into direct wallet ownership and participation in decentralized markets.

One detail still needs cautious wording. Bloomberg, as cited by CoinDesk, reported the transaction is worth about $70 million, but eToro said the terms are not being disclosed. The conservative verified version is that an acquisition agreement exists, the closing is still subject to customary conditions, and the reported price has not been confirmed by eToro.