eToro is buying Israeli startup Zengo for about $70 million.
Zengo builds self-custody crypto wallets, which let users fully control their digital assets. This deal will help eToro grow its blockchain and crypto business, which already accounts for a large share of its overall operations.
The deal brings together eToro’s global trading platform with Zengo’s self-custody wallet technology.
Zengo’s wallet lets users store and manage their crypto themselves, without relying on a central company to hold it for them. It uses a security method called multi-party computation (MPC), which removes the need for traditional private keys. Instead, it uses a “keyless” system that aims to make crypto storage safer and easier to use.
This deal is a fairly small exit for Zengo, which has raised a total of $24 million since it was founded.
Its investors include Insight Partners, which led a $20 million funding round in 2021, as well as Samsung Next, Elron, Collider Ventures, and others.
Zengo was founded in 2018 by Ouriel Ohayon, Tal Be’ery, and Omer Shlomovits.
Its wallet lets users easily convert crypto into regular money, swap between different cryptocurrencies, and earn rewards through staking. It also gives access to decentralized apps (dApps). Overall, it is designed as an all-in-one self-custody crypto wallet.
eToro said the acquisition will strengthen its ability to support emerging digital asset use cases, including tokenized assets and decentralized trading models such as prediction markets and perpetuals.
“We believe the future of finance will be increasingly digital, decentralized and user-controlled,” said eToro co-founder and CEO Yoni Assia. He added that the deal reflects the company’s long-term approach to building its crypto infrastructure.
Zengo CEO Ouriel Ohayon said the acquisition would allow the company to expand its reach. “Joining eToro allows us to accelerate that mission at a global scale,” he said.
eToro said it is still focusing on a mix of different trading products instead of relying on just one.
In the first quarter of 2026, commodities made up 60% of its trading commissions. The company also saw trading activity grow strongly, with total trading volumes nearly four times higher compared to the same period last year.
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