eToro is paying around $70 million for Israeli crypto wallet ZenGo. The acquisition is more than a product purchase – it is a strategic move that positions the trading platform at the heart of chain-based finance.
eToro was founded in 2007 with the ambition of building one platform for all asset classes. Today the offering spans more than 9,600 stocks, 1,078 ETFs and 193 cryptocurrencies – available to 40 million users worldwide. The company is listed on Nasdaq at a valuation of around $3 billion.
But offering crypto as a tradable asset is different from owning the infrastructure crypto actually runs on. That is the distinction eToro is now moving to erase.
ZenGo was founded in 2018 and is technically distinct from most competitors. The wallet uses MPC cryptography and a keyless architecture – meaning users never handle a private key directly. The solution has never been hacked and today counts more than 2 million users across 180+ countries.
With ZenGo in its portfolio, eToro gains control of the self-custody layer – a wallet that currently offers on/off-ramp capabilities, token swaps, staking and access to decentralised applications. According to eToro, the acquisition also strengthens the company's ability to support emerging use cases including tokenised assets, prediction markets and perpetuals.
The acquisition is carefully structured. By keeping the ZenGo wallet initially separate from its regulated core business, eToro gains chain-based exposure without requiring a new licence or regulatory notification – even as MiCA comes into full effect on 1 July 2026.
This allows eToro to expand into chain-based territory while MiCA compliance work is still underway – without putting its existing licence at risk.
For existing eToro users, no immediate changes are expected. The company signals a gradual integration of ZenGo and the eToro experience over time.
The day before the acquisition was announced, eToro launched an AI-powered "App Store" for trading and investing. Taken together, it points to a strategy where regulated exchange trading, on-chain finance and AI tools are being built into one – layer by layer.