eToro is set to acquire the Zengo protocol for $70 million to enhance its self-custody crypto capabilities.

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April 15 — Trading and investment platform eToro announced it has reached an agreement to acquire self-custody crypto wallet Zengo for $70 million, per CoinDesk. The acquisition aims to expand eToro’s self-custody crypto capabilities and bolster its strategy of bridging traditional finance with on-chain infrastructure. Upon closing the deal, eToro will integrate its multi-asset platform with Zengo’s non-custodial wallet technology to support development of digital asset use cases, including tokenized assets, prediction markets, and perpetual contracts.

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