- eToro is buying self-custody crypto wallet Zengo.
- The firm did not disclose the size of the deal.
- But it’s part of its broader push into tokenisation and prediction markets.
Shares of eToro jumped almost 5% on the news that it will buy crypto wallet Zengo for an undisclosed amount. Shares now trade at $38, which gives the Tel Aviv-based trading platform a $3 billion market cap.
The deal will enable eToro to boost its crypto applications, the two companies said in a release announcing the deal.
“It will strengthen our 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,” the firm said in a statement.
