Investment platform eToro (NASDAQ:ETOR) has reached an agreement to purchase Zengo, a specialist in user-managed cryptocurrency storage solutions. The transaction is estimated to be valued at around $70 million. This strategic acquisition reflects eToro’s ongoing efforts to deepen its involvement in DLT or blockchain-based services while giving clients more autonomy over their holdings.

eToro operates as a global platform where individuals can trade a wide range of financial instruments—from traditional equities and commodities to cryptocurrencies—through an intuitive interface that emphasizes community-driven insights and copy-trading tools.

Serving tens of millions of users across dozens of countries, the company has…