eToro Acquires Zengo for $70 Million to Enhance Self-Custody

eToro has announced the acquisition of crypto wallet startup Zengo for $70 million. This move is part of eToro's strategy to enhance its self-custody offerings, allowing users greater control over their digital assets.

The acquisition of Zengo, known for its secure crypto wallet solutions, marks a significant step for eToro in expanding its capabilities in the self-custody space. Zengo's technology is expected to integrate with eToro's existing platform, providing users with enhanced security and control.

eToro's CEO emphasized the importance of self-custody in the evolving digital asset landscape, highlighting the acquisition as a strategic investment in user empowerment and security.

Key facts

• eToro acquired Zengo for $70 million.
• The acquisition aims to enhance eToro's self-custody capabilities.
• Zengo is known for its secure crypto wallet solutions.
• Integration with eToro's platform is expected.

Sources

• The Block
• Cointelegraph