Trading and investing platform eToro said on Wednesday that it has entered into an agreement to acquire Zengo, a Tel Aviv-based self-custodial crypto wallet provider.
The deal adds Zengo’s wallet technology to eToro’s existing crypto and multi-asset platform. Zengo’s wallet replaces the traditional seed phrase with MPC cryptography, a design intended to simplify self-custody while reducing a common security vulnerability.
Zengo offers on- and off-ramp capabilities, token swaps, staking and access to decentralized applications. That product scope gives eToro a user-facing entry point into on-chain activity that sits outside its regulated brokerage and hosted wallet services.
The announcement explicitly ties the acquisition to future use cases including tokenized assets, prediction markets and perpetuals, though no launch timelines were given.
“We believe the future of finance will be increasingly digital, decentralized and user-controlled, with self-custody playing an important role in that evolution,” said Yoni Assia, co-founder and CEO of eToro.
eToro noted in its release that Zengo’s non-custodial wallet is a separate product from its regulated exchange services, and that Web3 activity through the wallet is not offered or guaranteed by any eToro regulated entity.
Financial terms were not disclosed. The transaction remains subject to customary closing conditions.
Founded in 2018, Zengo claims over 2 million users across 180 countries and is backed by Insight Partners and Tether, among others.
eToro also used the announcement to highlight broader business momentum, saying commodity trading accounted for 60% of trading commissions by asset class in Q1 2026, with commodities volume nearly 4x higher year over year.
