eToro buys Zengo for $70 million
eToro has agreed to acquire crypto wallet startup Zengo for $70 million, the companies confirmed on 15 April, in a move that extends the retail trading platform's offering into self-custody and Web3 services.
Zengo is known for its keyless wallet technology, which is designed to protect users' assets without requiring them to manage a traditional private key — a point of failure that has resulted in permanent loss of funds for many retail holders. By absorbing that capability, eToro gains a layer of user-asset protection that custodial-only platforms cannot offer.
The acquisition follows eToro's debut on a New York exchange, and positions the company to compete more directly with crypto-native firms that have long marketed self-custody tools as a differentiator. Demand for non-custodial infrastructure has grown among retail participants who became wary of counterparty risk following high-profile exchange collapses in recent years.
Financial terms beyond the $70 million headline figure were not disclosed in the available reporting.
