eToro Acquires Self-Custody Crypto Wallet Firm Zengo for $70 Million
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eToro has acquired self-custodial crypto wallet provider Zengo for $70 million, expanding its crypto capabilities. The deal combines eToro's 40 million registered users with Zengo's keyless wallet technology.
eToro has acquired self-custodial crypto wallet provider Zengo for $70 million. Zengo's keyless wallet technology uses multi-party computation (MPC) cryptography and serves over 2 million users. The acquisition positions eToro to support emerging DeFi use cases. eToro's global trading infrastructure will be combined with Zengo's secure wallet services. The deal reflects eToro's long-term approach to building its crypto capabilities. eToro's shares rose over 6% following the announcement.
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