eToro, the Israeli-founded trading platform listed on Nasdaq, said on April 15, 2026 that it had signed an agreement to acquire Zengo, an Israeli startup that makes a self-custodial crypto wallet. The deal is subject to customary closing conditions, and no closing date was given.
eToro did not disclose the terms. Bloomberg, citing a person familiar with the deal, reported it was worth about $70 million, and Israeli business daily Globes put the estimate at $70 million, mostly in cash. Globes said it was eToro's first acquisition since its initial public offering in 2025.
Zengo's wallet will remain a separate product from eToro's regulated exchange services. eToro said it plans to use the technology to strengthen its support for tokenized assets and newer on-chain trading models.
What Zengo built
Zengo was founded in 2018 and was an early user of multi-party computation (MPC) cryptography in consumer wallets. Its keyless design means users do not have to write down and guard a seed phrase, which the company says improves security and makes self-custody easier.
The wallet offers on- and off-ramps between crypto and traditional money, token swaps, staking and access to decentralized applications. A paid tier, Zengo Pro, adds Bitcoin vaults, an inheritance-style recovery feature and lower purchase fees, while Zengo Business offers team wallets for small companies and enterprises. The Block reported that Zengo had also acquired Minke, a wallet focused on stablecoins.
Zengo says more than 2 million individuals and businesses in over 180 countries use its wallet, and that no Zengo wallet has been hacked since 2018.
“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.”
Why eToro is buying
eToro reports more than 40 million registered users in 75 countries. It said the purchase is part of a plan to connect traditional finance with on-chain infrastructure, and named tokenized assets, prediction markets and perpetual contracts as areas it wants to support. eToro stated that Web3 activity through the wallet, such as decentralized apps, swaps and staking, is not regulated and is not offered or guaranteed by any eToro regulated entity.
Co-founder and chief executive Yoni Assia said he expects finance to become more digital, decentralized and user-controlled, with self-custody playing an important role. He added that downturns in crypto are a time to build, and pointed to the company's broader business: commodities made up 60 percent of trading commissions by asset class in the first quarter of 2026, with commodities trading volume nearly four times higher than a year earlier.
Globes reported that eToro shares rose 6.16 percent on the news, though they remained 27 percent below their IPO level, giving the company a market value of about $3.1 billion. The Block noted that eToro had recently begun offering crypto trading in New York after receiving a BitLicense, and had reported higher fourth-quarter profitability helped in part by crypto derivatives trading.
The founders and the funding
Zengo is led by co-founder and chief executive Ouriel Ohayon. He said the company had focused from the start on making self-custody simple and secure for ordinary users, and that joining eToro would let it pursue that goal at global scale while linking it to a wider investing platform.
Zengo raised about $24 million in total, according to Finder data cited by Globes. The Block reported that this included a $20 million Series A in 2021 and that the company later sought new funding at a $100 million valuation. eToro named Insight Partners and Tether among Zengo's backers.
What happens to users
eToro said Zengo will keep running as a standalone wallet, so existing users keep their self-custodial accounts and are not moved onto eToro's exchange. The release did not say whether Zengo's leadership or staff would change once the deal closes.
Assia said the acquisition would let eToro speed up Zengo's growth while giving customers a choice in how they hold and manage digital assets.
