eToro Group Ltd. announced on April 15, 2026 that it will acquire Zengo, a self‑custodial crypto wallet provider, in a transaction valued at approximately $70 million. The deal is intended to deepen eToro’s digital‑asset capabilities and accelerate its strategy of linking traditional finance with on‑chain infrastructure.
Zengo, founded in 2018, has built a secure wallet that has never been hacked and serves more than 2 million users in over 180 countries. Its key features include multi‑party computation cryptography, a keyless wallet architecture that eliminates seed‑phrase risk, and a comprehensive suite of on‑ and off‑ramp services that enable users to buy, sell, swap, and stake tokens directly from the wallet.
By integrating Zengo, eToro will offer its 40 million registered users a self‑custodial experience that supports token swaps, staking, and access to decentralized applications. The addition expands the range of crypto assets and DeFi services available to eToro’s user base and positions the company to capture growth in the projected $100 trillion shift of capital markets onto blockchain infrastructure.
eToro’s Q4 2025 earnings reflected strong performance, with a net contribution of $227 million and GAAP net income of $69 million, compared to $253 million and $78 million, respectively, in Q4 2024. The company’s full‑year 2025 net contribution rose to $868 million from $788 million in 2024, while GAAP net income increased to $216 million from $186 million. The earnings beat analysts’ expectations for both EPS ($0.71 versus $0.69 forecast) and revenue, a result that was well received by investors and underscored the company’s resilience amid a softer crypto trading environment.
The acquisition is priced at 8‑10 times Zengo’s annual recurring revenue, although the exact figure is not disclosed. Integration will occur in a phased approach over the next 12‑18 months, beginning with maintaining Zengo as a standalone application before gradually embedding its technology into eToro’s platform. The deal is expected to close subject to customary conditions and is not anticipated to materially alter eToro’s current financial guidance.
CEO Yoni Assia said, "We believe the future of finance will be increasingly digital, decentralized and user‑controlled, with self‑custody playing an important role in that evolution. Zengo has built an innovative and secure wallet experience, and this acquisition will enable us to accelerate its growth while continuing to provide users with choice in how they access digital assets." Zengo co‑founder Ouriel Ohayon added, "From day one, Zengo has focused on making self‑custody simple and secure for everyday users. Joining eToro allows us to accelerate that mission at a global scale and expand access to self‑custody and on‑chain finance while connecting it to a broader investing ecosystem that bridges traditional and on‑chain finance."
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