eToro acquires Zengo to push into self-custody as commodity trading surges

eToro (NASDAQ:ETOR) announced on Wednesday, April 15, 2026, that it has entered into a definitive agreement to acquire Zengo, a leading provider of self-custodial crypto wallets.

The strategic move comes as eToro reports a massive rotation into "real assets," with commodity trading accounting for 60% of all commissions in the first quarter of the year.

The acquisition integrates Zengo’s proprietary Multi-Party Computation (MPC) technology into the eToro ecosystem.

Unlike traditional wallets that rely on vulnerable seed phrases, Zengo’s "keyless" architecture splits private keys between the user’s device and secure servers, eliminating single points of failure.

This tech will anchor eToro’s expansion into on-chain infrastructure, supporting tokenized assets, perpetual futures, and decentralized trading models.

The acquisition follows a record-breaking quarter for eToro’s traditional trading segments.

Driven by heightened geopolitical tension and supply-side constraints, eToro's commodity trading volume jumped nearly 4x year-over-year in Q1 2026.

Retail investors heavily favored energy and precious metals, with oil and gold leading the surge as markets priced in long-term macroeconomic volatility.

By acquiring Zengo, eToro is positioning itself as a bridge between this "real asset" boom and the crypto-native economy.

The platform plans to leverage Zengo's technology to allow users to move seamlessly between custodial trading and self-managed on-chain portfolios.

The transaction is subject to customary closing conditions, and the Zengo team is expected to join eToro to lead the development of its decentralized finance (DeFi) initiatives.