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

BlockBeats News, April 15th, according to CoinDesk, trading and investment platform eToro announced that it has reached an agreement to acquire the self-custody crypto wallet Zengo for a purchase price of $70 million. This acquisition aims to expand its self-custody crypto capabilities and strengthen the strategy of bridging traditional finance with on-chain infrastructure.

Following the completion of the transaction, eToro will integrate its multi-asset platform with Zengo's non-custodial wallet technology to support the development of tokenized assets, prediction markets, and perpetual contracts, among other digital asset use cases.