eToro enters agreement to acquire Zengo, terms not disclosed

eToro (ETOR) entered into an agreement to acquire Zengo, a self-custodial crypto wallet provider, in a move that deepens eToro’s digital asset capabilities and accelerates its strategy of connecting traditional finance with on-chain infrastructure and the crypto native economy. The company said, “The acquisition brings together eToro’s global multi-asset platform and distribution with Zengo’s non-custodial wallet technology, supporting Zengo’s next phase of growth while expanding eToro’s digital asset capabilities. The transaction strengthens eToro’s ability to support evolving digital asset use cases, including tokenized assets and emerging decentralized trading models such as prediction markets and perpetuals, as these markets develop. Founded in 2018, Zengo is a pioneer in multi-party computation cryptography and provides a market-leading crypto wallet, known for its keyless wallet architecture designed to enhance security while simplifying self-custody. Zengo offers a full-service crypto experience, including on- and off-ramp capabilities, token swaps, staking and access to decentralized applications, making it one of the most comprehensive consumer self-custodial solutions in the market.”