rewrite this title eToro to Acquire Zengo, Expanding Self-Custody Crypto Capabilities

We are excited to announce that eToro has entered into an agreement to acquire Zengo, the leading self-custodial crypto wallet provider.

Our goal is to provide our users with the knowledge, tools, products and services they need to meet their evolving investment goals. This move deepens our digital asset capabilities and accelerates our strategy of connecting traditional finance with on-chain infrastructure and the crypto native economy.

The acquisition will bring together eToro’s global multi-asset platform and distribution with Zengo’s non-custodial wallet technology, supporting Zengo’s next phase of growth while expanding eToro’s digital asset capabilities. 

It will strengthen our ability to support evolving digital asset use cases, including tokenized assets and emerging decentralized trading models such as prediction markets and perpetuals, as these markets develop.

Commenting on the news, Yoni Assia, Co-founder and CEO of eToro, said: “We believe the future of finance will be increasingly digital, decentralized and user-controlled. Self-custody is an important part of that evolution. Zengo has built an innovative and secure wallet experience, and this acquisition will enable us to accelerate Zengo’s growth while continuing to provide users with choice in how they access digital assets.”

Who is Zengo?

Founded in 2018, Zengo is a pioneer in multi-party computation (MPC) cryptography and a leading market crypto wallet, known for its keyless wallet architecture designed to enhance security while simplifying self-custody. Zengo offers a full-service crypto experience, including on- and off-ramp capabilities, token swaps, staking and access to decentralized applications, making it one of the most comprehensive consumer self-custodial solutions in the market.

“From day one, Zengo has focused on making self-custody simple and secure for everyday users,” added Ouriel Ohayon, Co-founder and CEO of Zengo. “Joining eToro allows us to accelerate that mission at a global scale. Together, we can expand access to self-custody and on-chain finance while connecting it to a broader investing ecosystem that bridges traditional and on-chain finance.”

How will it impact eToro users?

There will be no immediate impact on eToro users but in the near future we plan to give users easier access to a wider range of products and services by integrating the Zengo and eToro user experience. eToro users will gain access to a broader range of decentralized products including prediction markets, perpetuals and yield products. 

By adding an industry-leading team and technology to our stack we are strengthening our ability to take a leading role in the transition to an on-chain world.

Thank you for your continued support.

Yoni AssiaCEO and Co-foundereToro