eToro to Expand Digital Asset Offering With Acquisition of Zengo | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
eToro announced Wednesday that it has agreed to acquire Zengo, strengthening its push into self-custody and on-chain investment infrastructure as demand for decentralised finance grows.
The company said the transaction will combine its global distribution network and multi-asset platform with Zengo’s non-custodial wallet technology.
The deal is said to aim to accelerate eToro’s strategy of connecting traditional finance with blockchain-based products, while supporting the next stage of growth for Zengo.
“We believe the future of finance will be increasingly digital, decentralised and user-controlled. Self-custody is an important part of that evolution,” said Yoni Assia, co-founder and CEO of eToro.
“Zengo has built an innovative and secure wallet experience, and this acquisition will enable us to accelerate Zengo’s growth while continuing to provide users with choice in how they access digital assets.”
Founded in 2018, Zengo is known for its keyless, multi-party computation wallet architecture, offering features such as token swaps, staking, decentralised app access, and on- and off-ramp capabilities. The firm describes itself as one of the most comprehensive consumer self-custodial solutions in the market.
Ouriel Ohayon, co-founder and CEO of Zengo, said the deal would extend the company’s mission.
“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.”
eToro said there will be no immediate changes for users. However, it plans to integrate Zengo’s capabilities into its platform, giving customers access to a broader range of decentralised products, including prediction markets, perpetuals and yield-generating services.
