Crypto World
Fireblocks Debuts Institutional Yield Tool for Stablecoins
Fireblocks is expanding its institutional toolbox with a new feature called Earn, designed to channel idle stablecoin balances into on-chain lending strategies powered by Aave and Morpho. The company rolled Earn out in Early Access for its customers, pairing a Sentora-curated Morpho vault with direct access to Aave’s stablecoin lending markets.
In describing the product, Fireblocks emphasized that Earn targets capital that sits idle between settlement windows and deployment cycles. The company said that Earn gives institutions native access to on-chain lending while keeping the same controls and governance familiar from their existing workflows.
Fireblocks disclosed that Earn’s rollout follows a broader surge in stablecoin activity among institutions. The firm reported roughly $6 trillion in stablecoin transfer volume in 2025 across more than 2,400 institutional clients, up about 300% from the previous year. This acceleration underscores growing demand among traditional finance and crypto-native entities to monetize on-chain liquidity without relinquishing risk controls.
Earn arrives as part of a broader trend: several platforms are launching institutional gateways to decentralized lending to convert idle stablecoins into constructive yield, using regulated, institution-friendly interfaces. Competitors in this space include Aave Horizon, Coinbase Prime, Anchorage Digital, Nexo Institutional and Spark Institutional Lending, among others.
Fireblocks noted that it would not publish a fixed yield target for Earn. Any returns would be generated by the underlying lending protocols and would be variable, not guaranteed, and could be zero.
Aave remains the leading decentralized lending protocol by TVL, with about $25.9 billion in total value locked, followed by Morpho at roughly $7.67 billion, according to DeFiLlama data. The arrangement with Earn thus leverages the two protocols’ liquidity pipelines to provide institutional users with on-chain exposure mediated through Fireblocks’ compliance and custody framework.
Key takeaways
- Earn enables Fireblocks clients to deploy idle stablecoins into on-chain lending via a Morpho vault (Sentora-curated) and direct access to Aave’s stablecoin markets.
- The feature is available in Early Access for existing Fireblocks customers, emphasizing risk controls and governance already familiar to institutions.
- Fireblocks cautions that returns depend on the underlying protocols and are variable, with no guaranteed yields.
- Market dynamics show institutions transferring trillions in stablecoins, with Fireblocks reporting $6 trillion in 2025 across 2,400+ clients—up 300% year over year.
- The competitive landscape for institutional stablecoin lending includes Aave Horizon, Coinbase Prime, Anchorage Digital, Nexo Institutional and Spark Institutional Lending, among others, illustrating a crowded gateway space.
A gateway to on-chain lending for institutions
Earn represents a deliberate attempt to harmonize the allure of on-chain lending with the risk controls and oversight demanded by enterprise clients. By wrapping direct access to Aave’s stablecoin markets within a curated Morpho vault, Fireblocks aims to reduce the operational complexity that often accompanies DeFi participation for large organizations. The approach mirrors a broader shift in the market: institutions want the yield opportunities of decentralized finance, but within regulated and auditable frameworks that align with their internal treasury policies.
Michael Shaulov, Fireblocks’ co-founder and CEO, described Earn as a way to unlock idle capital without forcing institutions to abandon their established risk posture. “For the first time, institutions can put those balances to work through onchain lending strategies curated by established institutional names, inside the same platform, under the same controls they already run,” he said.
Scale, idle capital and the race for an institutional gateway
The market context for Earn is underscored by rapid growth in stablecoin usage among institutional participants. Fireblocks’ own figures show a substantial expansion in stablecoin transfers in 2025, a year that saw the platform support heavy flows across its network of clients. The trend reflects both the expanding demand for liquidity efficiency and the willingness of institutions to experiment with on-chain instruments as a complement to traditional custody and settlement workflows.
As more players enter the space, the appeal of a unified access point—where custody, accounting, settlement, and lending controls converge—grows. Yet the space remains nuanced: while on-chain lending can improve idle capital utilization, it also exposes institutions to protocol risk, smart contract risk, and fluctuating yields. The message from Fireblocks and its peers is clear—participation comes with the caveat of variable returns and no yield guarantees.
Deliberate stack: Aave, Morpho and the DeFi backbone
Beyond the user experience, the Earn announcement spotlights the enduring role of core DeFi protocols in institutional access. Aave stands as the largest decentralized lending protocol, with tens of billions in liquidity relative to other platforms. Morpho, built atop Aave’s base, provides additional routing and optimization capabilities for lenders and borrowers, contributing a meaningful portion of the on-chain liquidity pipeline. DeFiLlama’s latest data places Aave at approximately $25.9 billion in TVL and Morpho at around $7.67 billion, illustrating how these protocols underpin institutional-grade lending channels.
Fireblocks’ decision to anchor Earn in Aave and Morpho reflects a broader industry pattern: custodial platforms seek to offer regulated, enterprise-ready on-chain exposure while leveraging the deep liquidity and reputation of established DeFi primitives. As more institutions experiment with on-chain lending, the quality and resilience of the underlying protocols will become a focal point for risk management teams and investors alike.
Broader Fireblocks expansion: custody, accounting and regulatory posture
Earn arrives as Fireblocks continues mounting its institutional stack. In late 2025, Fireblocks Trust Company joined forces with Galaxy, Bakkt and others to launch a crypto custody framework operating under the New York Department of Financial Services (NYDFS). The move was designed to meet rising demand for regulated custody solutions from large institutions and to provide a compliant landing zone for DeFi exposure, as reported by Cointelegraph at the time.
Looking ahead, Fireblocks also expanded its technical footprint with the January 2026 acquisition of the crypto accounting platform TRES for $130 million. The acquisition signals a broader push to provide tax compliance infrastructure and operational visibility that institutional clients require when engaging with tokenized assets and on-chain activity. Taken together, Earn, the custody framework and the accounting capability position Fireblocks not just as a gateway to DeFi, but as a comprehensive, enterprise-grade operating system for institutional crypto activity.
What this means for investors, users and builders
Earn’s introduction highlights a few key dynamics shaping the institutional crypto landscape. First, the appeal of on-chain lending is unmistakable: it offers potential yield modulation for idle stablecoins while integrating within a governance and controls framework familiar to risk officers. Second, the market remains competitive, with multiple gateway solutions competing to offer reliable access points to DeFi lending. Third, the broader Fireblocks strategy—combining custody, accounting and on-chain investment products—illustrates a path toward more integrated institutional crypto services that could become the norm if adoption continues to accelerate.
As the ecosystem matures, readers should monitor how Earn and similar offerings handle risk—with particular attention to protocol-level shocks, liquidity shocks, and regulatory developments that could influence on-chain engagement for institutions. The coming quarters will reveal how these gateways adapt to evolving user demand, yield dynamics, and the ever-present need for robust controls in a rapidly expanding market.
According to Fireblocks’ own disclosures, Earn’s success will hinge not on a single metric but on the reliability of the underlying protocols and the ability of the platform to maintain institutional-grade governance while enabling meaningful idle-capital deployment.
In the near term, investors and builders will want to watch for broader adoption metrics, evolutions in custody and tax reporting tooling, and any changes in the regulatory landscape that could shape the appetite for on-chain lending among enterprises.
Source data and context include Fireblocks’ Earn announcement via its press release, DeFiLlama’s TVL figures for Aave and Morpho, and industry reporting on Fireblocks’ custody framework and TRES acquisition. The combination of these elements suggests a growing, albeit nuanced, trajectory for institutional participation in DeFi lending.
The governance proposal would give early token buyers the ability to start unlocking their tokens in two years — notably, after Trump’s second presidential term ends.
World Liberty Financial (WLFI), the DeFi project tied to the Trump family, has posted a governance proposal restructuring token unlocks for all major holder categories, covering over 62 billion WLFI tokens in total.
Under the proposal, early supporters — presale buyers who purchased WLFI at either $0.015 or $0.05 per token — would see their more than 17 billion locked tokens placed on a 2-year cliff followed by a 2-year linear vest, with tokens beginning to unlock at year two and fully distributed by year four. Per the proposal, the unlock takes effect from the date that the proposal passes.
The initial WLFI presale began a year and a half ago, in mid-October, 2024, as The Defiant reported at the time. The proposed unlock and vesting schedule would mean early buyers will have to wait a total of five and a half years before their tokens are fully unlocked and distributed.
That timeline would notably extend well past January 2029, when Donald Trump’s second term as U.S. president ends.
Founders, team members, and partners, which hold a collective 45.2 billion WLFI, face a stricter schedule: a 2-year cliff with a 3-year linear vest, plus an immediate 10% burn of their allocation upon passage, per the proposal.
The proposed schedule does not replace a previous one, as the World Liberty team noted in the proposal and an X announcement today. WLFI’s original sale terms gave early buyers no guaranteed unlock date, and tokens could remain locked indefinitely, with any release contingent on a governance vote.
Holders who decline the new schedule remain under those original indefinite terms, per the proposal.
WLFI is currently trading around $0.08, down over 75% from its all-time high near $0.33, which it reached soon after launch.
Mounting Controversy
Earlier this week, WLFI’s largest investor, Justin Sun, publicly clashed with the project, alleging a hidden blacklisting function in the token contract gives WLFI unilateral power to freeze holder assets. WLFI responded by threatening legal action and calling Sun’s claims baseless.
The conflict follows reporting that WLFI borrowed roughly $75 million in stablecoins using its own WLFI tokens as collateral on Dolomite — a lending protocol co-founded by WLFI’s own CTO — drawing comparisons to prior DeFi blow-ups involving founder self-collateralization.
The latest governance vote runs for seven days with a 1 billion WLFI quorum threshold.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
President Donald Trump says China agreed to stop arming Iran. He tied the claim to efforts to permanently reopen the Strait of Hormuz.
The US is enforcing a naval blockade on Iranian ports. Bitwise analysts argue the crisis could expand Bitcoin’s (BTC) role in global finance.
Trump Declares China Partnership, Beijing Pushes Back
In a Truth Social post, Trump said he was “permanently opening” the Strait, predicting that President Xi Jinping “will give me a big, fat, hug” during an upcoming visit.
“China is very happy that I am permanently opening the Strait of Hormuz…They have agreed not to send weapons to Iran,” wrote Trump in the post.
The post came days after peace talks between VP JD Vance and Iranian officials collapsed in Islamabad. The US began a targeted blockade of Iranian ports around April 13.
Forces interdicted vessels and cleared mines near one of the world’s most critical oil routes.
The Strait handles roughly 20% to 30% of the global seaborne oil trade. Prolonged disruption threatens higher energy costs and supply chain risks worldwide. Shipping data shows traffic remains severely curtailed.
China’s Foreign Ministry offered a sharply different view. Spokesperson Guo Jiakun called the blockade “a dangerous and irresponsible move.”
He said it would “aggravate confrontation” and “undermine the already fragile ceasefire.”
Beijing denied US intelligence claims about weapons transfers to Iran. Officials called the allegations “groundless smears” and said China follows strict export controls.
No independent confirmation of a formal arms agreement has surfaced.
Bitwise Says Crisis Expands Bitcoin’s Addressable Market
The standoff has sharpened debate about BTC’s function beyond a store of value. Since US and Israeli airstrikes began on February 28, Bitcoin has gained 12%. The S&P 500 fell 1%, and gold dropped 10% over the same period.
Bitwise CIO Matt Hougan argued the outperformance stems directly from the conflict. He framed Bitcoin’s potential as a currency like an out-of-the-money call option that gained value as geopolitical volatility increased.
Iran’s decision to collect bitcoin tolls of roughly $1 per barrel from ships transiting the strait bolsters that thesis. The toll system could generate an estimated $21 million per day in crypto inflows. Hougan said the move points to a reality that “transcends the current conflict.”
“If Bitcoin starts to take on a dual role as both a store of value (like gold) and an actual currency (like the dollar), we may need to revise our targets higher,” wrote Hougan.
Bitwise head of research Ryan Rasmussen echoed that assessment. He said their internal price targets “are too low.” If BTC captures both roles, “$1 million per bitcoin begins to look like a starting point,” he added.
BTC traded for $73,894 as of this writing, holding gains from a recent rebound to its highest level since early February.
Whether the Strait fully reopens depends on fast-moving negotiations between Washington and Tehran.
The post Is Donald Trump Bluffing About China To Reopen the Strait of Hormuz? appeared first on BeInCrypto.
Decentralized finance (DeFi) platform World Liberty Financial on Wednesday posted a governance proposal that would place 62.28 billion locked WLFI tokens under new multiyear vesting schedules and introduce a potential burn for founder, team, adviser and partner allocations.
Under the proposal, early supporters’ locked tokens would face a two-year cliff followed by a two-year linear vest. Founder, team, adviser and partner allocations would face a two-year cliff followed by a three-year linear vest if those holders opt in to the new terms.
The plan also provides for a burn of up to 4.52 billion WLFI tokens, or 10% of the founder, team, adviser and partner allocation. Holders who do not accept the new vesting terms would remain locked indefinitely.
The move formalizes a phased unlock approach previously signaled by the project, offering a structured release of tokens while avoiding a near-term increase in supply. It comes as the Trump-linked platform faces growing pressure from holders and broader scrutiny of its governance.
WLFI proposal follows backlash, governance scrutiny
The proposal follows mounting criticism from early WLFI buyers over prolonged lockups and limited liquidity. On April 10, the project said it would introduce the proposal after some holders threatened legal action.
Additional scrutiny emerged around the platform’s governance structure and decision-making process.
On Monday, Tron founder Justin Sun, who previously invested $30 million in WLFI, criticized the platform over transparency concerns, alleging that prior governance votes were dominated by a small number of wallets and lacked meaningful participation. In response, WLFI threatened to file a lawsuit against Sun.
Related: Trump faces renewed backlash as Trump-linked crypto tokens hit lows
On the same day, Sun urged WLFI to disclose who controls key wallets tied to its smart contracts, warning that the setup could allow significant control, including the ability to freeze tokens.
The proposal also follows recent concerns around WLFI’s treasury activity and market performance. On Saturday, WLFI fell to a new all-time low, just days after wallets linked to the project used billions of tokens as collateral to borrow about $75 million in stablecoins.
Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEO
Key takeaways
- DOGE is down 0.5% and continues to trade below the $0.10 psychological level.
- The coin has been consolidating and could rally higher in the near term.
Dogecoin (DOGE), the largest meme coin with a market capitalization of $14.27 billion, represents over 0.50% of the $2.49 trillion cryptocurrency market as of Wednesday.
Dogecoin underperforms despite a disinflationary model
Dogecoin defends its inflationary model, stating that inflation will decrease gradually to 3.1% from 3.6% as the total DOGE supply increases.
The assumption driving this claim is that demand for the meme coin will remain steady, supported by its robust community that uses DOGE for tipping, institutions launching DOGE-focused Exchange Traded Funds (ETFs), and its growing use in Decentralized Finance (DeFi) services.
While the narrative suggests a stable demand, it may not guarantee sustained positive pressure on DOGE’s price.
While Dogecoin’s fixed issuance model reduces inflation relative to the increasing supply, it does not necessarily reduce the overall supply, as deflation would. The continued minting of 5 billion DOGE per year could become a persistent downside risk, especially during periods of low demand.
Dogecoin’s strategy emphasizes practical usage as a currency rather than hoarding, and it incentivizes miners to secure the network. However, the ongoing supply pressure may limit the effectiveness of this disinflationary model in the long term.
In addition to this, institutional demand for DOgecoin remains muted. Since the launch of DOGE spot ETFs on November 24, there have been just 15 days of inflows, totaling a net asset value of $10.80 million. With 79 days showing no flows and two days with net outflows, institutional interest in DOGE remains limited.
The Dogecoin Treasury currently holds just over 780.54 million DOGE, which represents 0.51% of the total DOGE supply. Gaining further institutional support is key for Dogecoin to progress into the global financial system, providing the demand necessary to support the disinflationary model.
DOGE could rally above $0.10 if the bulls regain control
The DOGE/USD 4-hour chart remains bearish and efficient despite the broader crypto market rallying recently. At press time, DOGE is trading at $0.094 after rejecting at the $0.098 swing high earlier this week.
The RSI of 55 is above the neutral 50, indicating a fading bearish momentum. The MACD lines are also above the zero region, adding further bullish narrative to the pair.
If the bulls regain control, DOGE could surpass the $0.098 swing high and hit the $0.10 psychological level for the first time since March 16.
However, if the bearish correction persists, DOGE could retest the Sunday low of $0.09012 in the near term.
Crypto World
Justin Sun Just Revealed a Quantum-Resistant Roadmap for Tron: Is TRX About to Break $0.40?
Justin Sun just dropped a new strategic framework for Tron and TRX is responding.
The token is trading at $0.3234, up 1.1% in 24 hours. The modest price move understates what the roadmap is actually signaling if it gains traction.
The detail most headlines are missing is the quantum angle. Sun is positioning Tron as a quantum-resistant Layer-1, with protocol-level upgrades targeting post-quantum cryptographic standards alongside expanded DeFi and stablecoin settlement rails. That reframes the entire long-term infrastructure thesis for the network.
The announcement hit Sun’s official channels and immediately split crypto Twitter between technical optimism and the skepticism that follows any Sun-led initiative. Both reactions are predictable. The more important context is that Tron’s stablecoin volume is already among the highest of any chain. This roadmap is building on a concrete base, not a whitepaper premise.
While Bitcoin debates whether to freeze vulnerable coins and Ethereum forms research committees, TRON is building.
Today I'm announcing that TRON is officially launching its post-quantum upgrade initiative. TRON will be the first major public blockchain to deploy…— H.E. Justin Sun
(@justinsuntron) April 14, 2026
The broader market is recovering on macro tailwinds, which gives this announcement better timing than it might otherwise deserve. TRX price action now becomes the cleanest read on whether the market is pricing the roadmap as signal or noise.
Can Tron (TRX) Crypto Price Hit $0.40 This Week?
TRX is holding $0.32 as immediate support, a level it has defended across multiple sessions. CoinLore’s forecast data places near-term resistance in the $0.34–$0.36 band, a range that has capped rallies throughout the current consolidation phase. Volume on the 24-hour print remains moderate, suggesting accumulation rather than a momentum-driven breakout, for now.
Moving average structure is constructive. Price sits above the 50-day MA, and short-term momentum indicators have not flashed overbought conditions, leaving room for a leg higher without immediate mean-reversion risk.
Projections flag $0.38–$0.42 as achievable within a 30-day window under a sustained bull scenario.
TRX is still orbiting that same decision zone, and $0.36 is the trigger, because if price breaks and holds above it with real volume, that is where momentum unlocks and a quick push toward $0.40 becomes realistic.
For now though it still looks like digestion, with price stuck between $0.32 and $0.36 while the market processes the news, so instead of a breakout you get a slow grind as long as sentiment does not fade.
The level that really matters underneath is $0.30, because as long as it holds, structure is still intact, but if it breaks, things flip bearish fast and $0.27 comes into play, especially if the broader market weakens.
What makes this more interesting is the longer term angle, because expectations are still leaning bullish, but it all depends on execution, and that is the part the market will price in quickly, not months later.
So in the short term, $0.34 is the tell, because how price reacts around that level this week will show whether buyers are actually stepping in or just waiting.
Maxi Doge Targets Early-Mover Upside as TRX Tests Key Resistance
TRX at $0.32, with a clear ceiling at $0.36, means the upside for late entrants is capped at 10–12% to the next resistance band. For traders who missed the base, the broader bull market setup raises an obvious question: where does the asymmetric risk actually sit right now?
One answer generating traction in presale circles is Maxi Doge (MAXI), a meme token built on Ethereum that packages the 1000x leverage trading mentality into a community-driven ecosystem.
The concept (a 240-lb canine juggernaut who never skips leg day, never skips a pump) is absurd by design, which is exactly the point.
The presale has now raised $4,734,794.34 at a current token price of $0.0002813, with staking rewards distributed daily via smart contract.
Features include holder-only trading competitions with leaderboard rewards, a Maxi Fund treasury backing liquidity and partnerships, and futures platform integrations built for the ROI-hunter demographic. Early-stage meme tokens carry substantial risk of total loss, that’s the trade-off for the entry price. For those who’ve done the research, the Maxi Doge presale is live now.
The post Justin Sun Just Revealed a Quantum-Resistant Roadmap for Tron: Is TRX About to Break $0.40? appeared first on Cryptonews.
Pakistan’s central bank notified all banks and financial institutions in the country that the ban on providing crypto services has been lifted.
However, according to the new state bank rules, banks are banned from investing, trading or holding crypto assets using their own funds or customer deposits.
The State Bank of Pakistan’s move follows the recent enactment of the 2026 Virtual Assets Act, which establishes Pakistan’s Virtual Asset Regulatory Authority (PVARA to license, regulate and supervise the sector.
The central bank replaced its 2018 ban on crypto with new rules that permit regulated banks and other financial institutions to open accounts for crypto firms approved under PVARA.
Under the new state bank framework, banks can provide services to virtual asset service providers (VASPs) licensed under the new crypto act, as well as to those seeking approval, subject to strict compliance with anti-money laundering (AML), know-your-customer (KYC), and other counter-terrorism financing regulations.
“Subject to strict compliance with the conditions outlined herein, SBP Regulated Entities (REs) may open bank accounts of entities duly licensed by PVARA as Virtual Asset Service Providers (VASPs),” the State Bank of Pakistan said.
The central bank’s rules also set out detailed conditions for onboarding crypto firms, which include mandatory verification of licenses, enhanced due diligence and ongoing supervision of all their transactions.
In December, the government of Pakistan and Binance signed a memorandum of understanding (MOU) allowing the world’s largest crypto exchange by trade volume to explore the tokenization of up to $2 billion in bonds, treasury bills and commodity reserves in Pakistan.
That same month, the Chairman of Pakistan’s Virtual Assets Regulatory Authority (VARA), Bilal Bin Saqib, announced in a video interview with CoinDesk his country’s plans to accelerate crypto adoption, leverage Bitcoin mining, and launch a national stablecoin.
Roughly 40 million or about 17% of the Pakistani population are involved in crypto trading, the government said in February. The country is the third-largest crypto market by retail activity, ahead of places like Germany and Japan.
Bitmine Immersion Technologies chairman Tom Lee said Wednesday that the recent crypto slump was a “mini crypto winter” that may already be ending, in comments that came shortly after the company disclosed a multibillion-dollar quarterly loss tied largely to unrealized markdowns on the company’s Ether holdings.
During a keynote speech at Paris Blockchain Week 2026, Lee said that equity markets have bottomed due to the US-Israel war with Iran, and that Ether (ETH) will emerge from its “massive consolidation,” driven by tokenization and agentic artificial intelligence initiatives tied to the smart contract network.
Lee argued that equities have reached their bottom, leading to a recovery from what he called an “unusual” crypto market downturn, which didn’t coincide with a wider bear market in stocks for the first time. “Equity markets bottom on bad news. And we’ve had a lot of bad news,” said Lee, citing historical examples of stock markets bottoming out after the outbreak of wars.
Lee also said ETH is “probably on its way to 60,000” if his market thesis is correct and later described $62,000 as a fair-value scenario over the next few years, based on Ethereum reaching roughly one-quarter of Bitcoin’s (BTC) long-term value.
His comments come amid a wider crypto market downturn that has seen Ether’s price fall 43% since October 2025 to trade around $2,327 at the time of writing, significantly below Bitmine’s average cost basis of $3,660, according to data from Bitminetracker.
Bitmine posts $3.8 billion quarterly loss on Ether holdings
Lee’s comments also follow Bitmine’s posting of a $3.82 billion loss on its Ether holdings during the first quarter of the year, according to a Tuesday filing with the US Securities and Exchange Commission.
The figure was mainly driven by the company’s over $3.78 billion in unrealized losses on its crypto holdings. Bitmine also reported $11 million in revenue, including $10.2 million from ETH staking.
Related: Ether treasuries need liquid staking edge to beat ETFs, says Lido exec
Despite the mounting losses, Bitmine announced a purchase of 71,524 Ether on Monday, with the company now holding roughly 4.04% of the total Ether supply. The latest acquisitions came shortly after Bitmine debuted on the New York Stock Exchange on April 9, uplisting from NYSE American.
Bitmine and Exodus Movement are the only two Ether treasury companies to publicly disclose Ether investments over the past 30 days.
Bitmine is the largest corporate Ether holder with 4.6 million ETH currently valued at over $10 billion, while SharpLink Gaming is second, with 863,000 Ether worth $1.89 billion, data from StrategicEthReserve shows.
Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling — Joseph Chalom
eToro has announced an agreement to acquire Zengo, a self-custodial crypto wallet provider, to combine eToro’s global, multi-asset platform with Zengo’s wallet technology. The move aims to broaden self-custody options and accelerate access to on-chain finance, linking traditional investing with on-chain infrastructure as digital assets evolve. The press release notes that the combination could support tokenized assets and emerging decentralized trading models, including prediction markets and perpetuals, while maintaining e- toro’s broad investing ecosystem. The transaction remains subject to customary closing conditions and reflects eToro’s long-term strategy to expand digital asset capabilities.
Key points
- Acquisition merges eToro’s multi-asset platform with Zengo’s non-custodial wallet technology to broaden self-custody capabilities.
- Zengo offers on- and off-ramp capabilities, token swaps, staking, and access to decentralized applications on a wallet powered by MPC cryptography.
- The deal supports evolving digital asset use cases, including tokenized assets and decentralized trading models such as prediction markets and perpetuals.
- The transaction is subject to customary closing conditions and reflects eToro’s long-term strategy to expand digital asset capabilities.
Why it matters
By bringing Zengo’s self-custodial wallet into its ecosystem, eToro could give users more control over private keys and on-chain access while staying within a regulated, multi-asset platform. The arrangement signals a strategic bet on self-custody as part of mainstream investing and could shape how readers engage with digital assets through tokenized assets and on-chain trading. This approach aligns with eToro’s broader strategy to broaden access to digital assets within its regulated ecosystem.
What to watch
- Progress toward closing conditions and regulatory approvals.
- Integration timeline for Zengo technology into the eToro platform and any related product roadmap.
- Any announcements of new self-custody features or on-chain services after closing.
Disclosure: The content below is a press release provided by the company or its PR representative. It is published for informational purposes.
eToro Acquires Zengo to Expand Self-Custodial Crypto Capabilities
Abu Dhabi, UAE -15 April 2026: eToro, the trading and investing platform, has entered into an agreement to acquire Zengo, a leading self-custodial crypto wallet provider, in a move that deepens eToro’s digital asset capabilities and accelerates its strategy of connecting traditional finance with on-chain infrastructure and the crypto native economy.
The acquisition brings together eToro’s global multi-asset platform and distribution with Zengo’s non-custodial wallet technology, supporting Zengo’s next phase of growth while expanding eToro’s digital asset capabilities.
The transaction strengthens eToro’s ability to support evolving digital asset use cases, including tokenized assets and emerging decentralized trading models such as prediction markets and perpetuals, as these markets develop.
Yoni Assia, Co-founder and CEO of eToro, said: “We believe the future of finance will be increasingly digital, decentralized and user-controlled, with self-custody playing an important role in that evolution. Zengo has built an innovative and secure wallet experience, and this acquisition will enable us to accelerate its growth while continuing to provide users with choice in how they access digital assets.
“As we often say, crypto downtimes are the time to build and this acquisition reflects that long-term approach. At the same time, we continue to demonstrate the strength of our diversified business model. We’ve seen strong capital market activity so far this year, with commodity trading accounting for 60% of trading commissions by asset class in Q1 2026, with commodities trading volume nearly 4x higher year over year. This growth was driven by shifting global macro dynamics, our standing as a top-tier global multi-asset platform, and our strategic expansion of 24/7 trading, including gold and oil.”
Founded in 2018, Zengo is a pioneer in multi-party computation (MPC) cryptography and provides a market-leading crypto wallet, known for its keyless wallet architecture designed to enhance security while simplifying self-custody. Zengo offers a full-service crypto experience, including on- and off-ramp capabilities, token swaps, staking and access to decentralized applications, making it one of the most comprehensive consumer self-custodial solutions in the market.
“From day one, Zengo has focused on making self-custody simple and secure for everyday users,” said Ouriel Ohayon, Co-founder and CEO of Zengo. “Joining eToro allows us to accelerate that mission at a global scale. Together, we can expand access to self-custody and on-chain finance while connecting it to a broader investing ecosystem that bridges traditional and on-chain finance.”
Notes
The deal is subject to customary closing conditions.
Media contact
pr@etoro.com
About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.
About Zengo
Zengo Wallet is the most secure self-custodial cryptowallet, trusted by over 2 million individuals and businesses in 180+ countries. Since 2018, no Zengo wallet has ever been hacked. Zengo Pro includes advanced features like Bitcoin Vaults, an inheritance-style feature, and now, heavily discounted fees on purchase. Zengo Business offers institutional-grade security and team wallets for SMBs and enterprises. Powered by MPC cryptography, Zengo has no seed phrase vulnerability and is backed by Insight Partners, Tether, and other leading investors.
Disclaimers
Zengo’s non-custodial wallet is a separate product from eToro’s regulated exchange services. Access to Web3 services through the wallet, including decentralized applications, token swaps, and staking, is not a regulated activity and is not offered, managed, or guaranteed by any eToro regulated entity. Users interact directly with third-party protocols and are responsible for their own actions.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Past performance is not an indication of future results.
eToro is a group of companies that are authorised and regulated in their respective jurisdictions. The regulatory authorities overseeing eToro include:
- The Financial Conduct Authority (FCA) in the UK
- The Cyprus Securities and Exchange Commission (CySEC) in Cyprus
- The Australian Securities and Investments Commission (ASIC) in Australia
- The Financial Services Authority (FSA) in the Seychelles
- The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) in the UAE
- The Monetary Authority of Singapore (MAS) in Singapore
- eToro USA Securities Inc., registered with Securities and Exchange Commission (SEC) and member of FINRA and SIPC
- eToro USA LLC state and FinCEN (31000318247697) registered
- eToro NY LLC hold licenses with the State of New York (MTL #104940 and VC #122584)
The United Kingdom’s Financial Conduct Authority (FCA) said Wednesday it is consulting on guidance for the country’s future crypto regime, in the latest step toward a broader framework that is expected to take effect on Oct. 25, 2027.
In a statement published Wednesday, the FCA said it is seeking industry feedback on the guidance to help companies understand how they might be affected by the regime. The full consultation text is available on the FCA website, with the feedback window closing on June 3, 2026.
The regulator said the guidance will clarify requirements for areas such as stablecoin issuance, crypto trading, custody and staking. “We want to develop a competitive and sustainable cryptoasset sector where UK consumers are served by authorised cryptoasset firms and can make informed decisions,” the FCA said.
The guidance consultation follows a run of FCA rule consultations published since late 2025 covering trading platforms, intermediaries, prudential standards, admissions and disclosures, market abuse, and how the FCA Handbook will apply to crypto companies. Until the regime comes into force, crypto in the UK remains only partially regulated, mainly restricted to areas such as financial promotions and Anti-Money Laundering (AML) regulations.
Related: UK regulator takes High Court action against HTX over crypto promotions
Authorization window opens later this year
According to the FCA, the broader crypto regime is expected to come into force in October 2027, but companies will be able to start applying for authorization as early as September 2026.
That aligns with the authority’s timeline published in January, when it said the license application period would open in September. According to the FCA, the application period is expected to end in February 2027.
The FCA previously said that the authorization under the upcoming crypto regime will not be automatically granted to companies that have already been registered under existing Money Laundering Regulations (MLRs) and payment-related frameworks.
According to the plan, all companies providing regulated crypto asset services in the UK will need to be authorized under the Financial Services and Markets Act (FSMA).
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
A Danmarks Nationalbank staff paper published this week places Denmark’s crypto exposure in a distinctly cautious light, revealing that only 4% of Danes own cryptocurrencies. The figure has remained flat since 2023 even as crypto markets expanded across Europe. The study, based on a 2025 survey conducted by Epinion, estimates national holdings between roughly $317 million and $847 million and shows that the typical position is small.
The paper draws on responses from 3,013 citizens aged 15 and older, collected between October and November 2025 through Denmark’s Digital Post system. Respondents could answer online or by phone, and the sample was weighted to reflect national demographics. Alongside the ownership rate, the report highlights how Danish crypto activity is distributed and what factors appear to influence adoption, including historical banking norms and tax treatment.
Key takeaways
- Only 4% of Danes own cryptocurrency, a share unchanged since 2023.
- Among holders, most positions are under 10,000 Danish kroner (about $1,570); national exposure is estimated at $317 million to $847 million.
- Indirect exposure through crypto-linked stocks and exchange-traded products stands at about $211 million, roughly 0.4% of total equity holdings.
- Crypto ownership skews toward younger, higher-income individuals; participation declines sharply after age 60.
- Retention and custody patterns show 70%–75% of users rely on service providers, while 20%–30% self-custody assets; Danske Bank began offering crypto exposure via BTC and ETH ETFs earlier this year.
Denmark’s crypto footprint versus Europe
The National Bank’s assessment places Denmark toward the lower end of crypto adoption in Europe. The paper notes that other European countries—such as Norway and Finland—along with the United Kingdom, report crypto ownership rates above 10% of their populations, indicating a broader regional ascent. The disparity underscores how local factors shape investor behavior even as global interest in digital assets grows.
Several explanations surface in the report for Denmark’s slower uptake. The Danish banking system has historically taken a cautious stance toward crypto, with banks rarely enabling purchases on their platforms and often discouraging crypto investments as high-risk. The analysis also cites earlier asymmetric tax treatment as a potential dampener on widespread adoption, suggesting that regulatory and fiscal clarity could be pivotal in shifting attitudes over time.
Banking shifts, investor attitudes, and regulatory context
Despite the cautious backdrop, institutional moves are beginning to reshape access. Earlier this year, Danske Bank—the country’s largest lender—began permitting customers to invest in crypto exposure through exchange-traded products tied to Bitcoin and Ethereum. The bank characterized the shift as part of a broader trend of growing demand for crypto exposure among clients, coupled with a clearer regulatory framework at the European level, including developments around the Markets in Crypto-Assets Regulation (MiCA).
While the Danmarks Nationalbank study confirms that most Danes remain wary of crypto as a daily payments method, the fact that a major bank is offering regulated crypto access suggests a potential for incremental uptake. Regulatory clarity, particularly from MiCA and any subsequent EU iterations, is singled out as a key factor shaping future adoption. The paper reinforces that, for many Danes, crypto remains an investment play rather than a transactional technology.
What to watch next for Danish crypto exposure
Several dynamics will likely determine whether Denmark’s crypto footprint grows. First, stricter or clearer EU-wide rules could lower perceived risk and encourage more institutions to offer regulated products. Second, tax policy changes—if pursued—could alter the cost-benefit calculus for individual investors and wealth managers. Third, ongoing shifts in custody infrastructure and product availability (for example, more self-hosted options or regulated custody services) may affect how Danes choose to hold crypto assets.
Overall, the NatBank’s survey paints a picture of a crypto market that has yet to become mainstream in Denmark, despite pockets of growing interest. The alignment (or misalignment) between regulatory signals, tax treatment, and bank-driven access will be critical to watch in the coming months as European markets continue to mature in their approach to digital assets.
What remains uncertain is how swiftly these systemic factors will translate into higher participation, especially among younger cohorts who have historically driven crypto adoption elsewhere. As MiCA 2 and related national policies evolve, observers will be watching whether Denmark’s modest baseline remains unchanged or begins to pick up pace in the next wave of retail involvement.
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