eToro Expands Crypto Reach with Zengo

This deal gives eToro a faster path from broker app to global crypto access layer. Zengo is not just extra country coverage, it is a self custody wallet already used by more than 2 million people and businesses in 180 plus countries, with built in on and off ramps, swaps, staking, and app connectivity. That lets eToro plug into on chain products without making users start from scratch with a separate wallet setup.1 2 3

• The 180 plus country figure comes from Zengo’s existing wallet footprint, not from eToro suddenly becoming a fully regulated brokerage in 180 countries. eToro still operates its core investing platform in about 75 countries, while Zengo expands the reach of its crypto infrastructure and wallet layer far beyond that.1 2
• What eToro is buying is concrete product plumbing. Zengo uses MPC, which replaces the usual seed phrase with split cryptographic keys, making self custody simpler for mainstream users. It also already supports swaps, staking, dapps, and fiat ramps, which are the basic building blocks for perpetuals, yield, and tokenized assets.1 3 4
• This follows the same pattern as other crypto platforms buying infrastructure instead of only adding coins. Kraken bought Reap to extend from exchange trading into stablecoin payments and orchestration. eToro is doing the retail version, adding wallet rails so users can move from simple brokerage trading into on chain activity inside one broader product stack.3 5

The next step is eToro turning wallet reach into product reach. As tokenized stocks, prediction markets, perpetuals, and yield products become more important, owning the wallet and custody layer should let eToro launch faster across markets and keep users inside its own ecosystem instead of sending them to external crypto apps.1 2 3