Key Takeaways
- • eToro is acquiring Israeli self-custody crypto wallet provider Zengo for approximately $70 million, predominantly in cash, representing a modest exit for the startup against its $24 million lifetime fundraising.
- • Zengo's proprietary multi-party computation (MPC) cryptography and keyless wallet architecture will expand eToro's non-custodial capabilities, allowing users to hold digital assets independently without relying on centralized custodians.
- • The deal strengthens eToro's (NASDAQ: ETOR, $3 billion valuation) ability to support emerging use cases including tokenized assets, decentralized trading models, prediction markets, and perpetuals as the platform bridges traditional finance with on-chain infrastructure.
- • Zengo, founded in 2018 by Ouriel Ohayon, Tal Be'ery, and Omer Shlomovits, offers comprehensive self-custody functionality including fiat conversion, token swaps, staking, and decentralized application access, positioning it as a leading consumer wallet solution.
- • Major investors in Zengo include Insight Partners (which led the 2021 $20 million funding round), Samsung Next, Elron, and Collider Ventures.
Summary
eToro, the global trading and investment platform, has agreed to acquire Zengo, a leading self-custodial crypto wallet provider, for an estimated $70 million in a deal announced on April 15, 2026. The acquisition represents a strategic expansion of eToro's digital asset infrastructure and reflects the company's long-term commitment to integrating decentralized finance capabilities with its multi-asset trading platform.
Zengo, founded in 2018, has developed one of the market's more comprehensive self-custody wallet solutions centered on multi-party computation (MPC) cryptography. The company's "keyless" architecture is designed to enhance security while simplifying the user experience—a critical differentiator in an increasingly competitive wallet market. Zengo's platform enables users to manage their own digital assets without relying on third-party custodians, while also supporting conversion between cryptocurrencies and fiat currencies, token swaps, staking, and access to decentralized applications.
For Zengo, which has raised $24 million over its lifetime from investors including Insight Partners, Samsung Next, Elron, and Collider Ventures, the acquisition represents a relatively modest exit. Insight Partners led the company's final major funding round of $20 million in 2021. Zengo's founders—Ouriel Ohayon, Tal Be'ery, and Omer Shlomovits—will see their mission accelerated through eToro's global distribution platform and institutional resources.
eToro, valued at approximately $3 billion on Wall Street (NASDAQ: ETOR) with the bulk of its business concentrated in cryptocurrency trading, views the acquisition as instrumental in supporting evolving digital asset use cases. According to CEO and co-founder Yoni Assia, "We believe the future of finance will be increasingly digital, decentralized and user-controlled. Self-custody is an important part of that evolution." The deal will enable eToro to expand support for tokenized assets and emerging decentralized trading models including prediction markets and perpetuals.
By combining eToro's established multi-asset platform and global distribution with Zengo's non-custodial wallet technology, the acquisition positions both companies to accelerate growth in areas where traditional finance and on-chain infrastructure increasingly overlap. Zengo CEO Ouriel Ohayon stated that "joining eToro allows us to accelerate that mission at a global scale," signaling the company's confidence in leveraging eToro's institutional reach to expand wallet adoption among both retail and sophisticated investors.
Zengo, founded in 2018, has developed one of the market's more comprehensive self-custody wallet solutions centered on multi-party computation (MPC) cryptography. The company's "keyless" architecture is designed to enhance security while simplifying the user experience—a critical differentiator in an increasingly competitive wallet market. Zengo's platform enables users to manage their own digital assets without relying on third-party custodians, while also supporting conversion between cryptocurrencies and fiat currencies, token swaps, staking, and access to decentralized applications.
For Zengo, which has raised $24 million over its lifetime from investors including Insight Partners, Samsung Next, Elron, and Collider Ventures, the acquisition represents a relatively modest exit. Insight Partners led the company's final major funding round of $20 million in 2021. Zengo's founders—Ouriel Ohayon, Tal Be'ery, and Omer Shlomovits—will see their mission accelerated through eToro's global distribution platform and institutional resources.
eToro, valued at approximately $3 billion on Wall Street (NASDAQ: ETOR) with the bulk of its business concentrated in cryptocurrency trading, views the acquisition as instrumental in supporting evolving digital asset use cases. According to CEO and co-founder Yoni Assia, "We believe the future of finance will be increasingly digital, decentralized and user-controlled. Self-custody is an important part of that evolution." The deal will enable eToro to expand support for tokenized assets and emerging decentralized trading models including prediction markets and perpetuals.
By combining eToro's established multi-asset platform and global distribution with Zengo's non-custodial wallet technology, the acquisition positions both companies to accelerate growth in areas where traditional finance and on-chain infrastructure increasingly overlap. Zengo CEO Ouriel Ohayon stated that "joining eToro allows us to accelerate that mission at a global scale," signaling the company's confidence in leveraging eToro's institutional reach to expand wallet adoption among both retail and sophisticated investors.
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