Trading and investment platform eToro has announced it will acquire Zengo, a self-custodial crypto wallet provider.

The company said the move will expand its digital asset capabilities and accelerate its project to connect traditional finance with on-chain infrastructure and the crypto-native economy.

The terms of the deal were not disclosed.

eToro said the purchase will improve its ability to support evolving digital asset use cases, including tokenised assets and emerging decentralised trading models such as prediction markets and perpetuals, as these markets develop.

Founded in 2018, Zengo provides a crypto wallet with keyless architecture designed to enhance security. eToro said it offers a full-service crypto experience, including on- and off-ramp capabilities, token swaps, staking and access to decentralised applications.

Yoni Assia, co-founder and chief executive of eToro, said the industry had seen strong capital market activity this year, with commodities trading volume around four times higher than last year.

“We believe the future of finance will be increasingly digital, decentralised and user-controlled, with self-custody playing an important role in that evolution,” he added. “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.”

In February, eToro partnered with asset manager Amundi to launch an equity portfolio aimed at gaining exposure to “mega trends” while maintaining broad exposure to global markets.

The company said it is focusing on “transformative” trends that will “shape the world” over the long term.

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