Zengo

Zengo is a self-custodial crypto wallet that secures keys with multi-party computation (MPC) rather than a seed phrase. It has operated since 2018 and is now an eToro company.

What is Zengo

Zengo is a mobile wallet for buying, swapping and holding crypto. Instead of giving the user a single seed phrase to back up, it splits signing between the user's device and Zengo's servers using MPC, so no single stored phrase can be stolen or lost. The wallet is non-custodial: Zengo cannot move a user's funds on its own.

Ownership

In April 2026, eToro announced an agreement to acquire Zengo to add a self-custody option alongside its custodial brokerage. Decrypt, citing Bloomberg, put the price at about 70 million. eToro says Zengo's wallet remains a separate product from its regulated exchange services, and its release describes Zengo as trusted by over 2 million individuals and businesses in more than 180 countries.

On Avalanche

On November 4, 2026, the Avalanche account announced that Avalanche is now accessible to "2M+ registered users worldwide through Zengo, an etoro company," with the network joining Zengo's self-custodial ecosystem. eToro founder and CEO Yoni Assia shared the announcement the same day: "Great to partner with avax!"