Zengo

ZenGo is a mobile-first, self-custody crypto wallet that eliminates seed phrases entirely, replacing them with a multi-party computation (MPC) cryptographic architecture that distributes signing authority across multiple parties so no single compromise can empty a wallet.

The Seed Phrase Problem ZenGo Is Solving

Traditional self-custody wallets generate a 12- or 24-word seed phrase that is the single master key to every asset the wallet holds. Lose it and everything is gone. Expose it—through phishing, screenshot leaks, or physical theft—and an attacker can drain funds instantly. ZenGo's founders concluded that the seed phrase is the weakest link in self-custody and set out to remove it entirely.

Founded in 2018 in Israel by Ouriel Ohayon (CEO), Gary Benattar, Omer Shlomovits, and Tal Be'ery, the team combined backgrounds in venture capital, cryptography, and consumer mobile to build what they describe as the most secure self-custody wallet. As of mid-2026, ZenGo has grown to over 2 million users across 180+ countries—and reports that no ZenGo wallet has ever been hacked since launch.

How MPC Replaces the Seed Phrase

ZenGo's security model rests on threshold Multi-Party Computation, a branch of cryptography that allows multiple parties to jointly compute a function (in this case, signing a transaction) without any party ever seeing the full private key.

The signing capability is split into three encrypted shares: one stored on the user's device, a second held on ZenGo's secure infrastructure, and a third kept with a trusted third-party custodian. A valid transaction requires cooperation from all three shares, but the shares are never combined in a single location—reconstruction happens only during the signing computation itself, and no party ever holds the complete key. An attacker who breaches ZenGo's servers gets one share only, which is cryptographically useless without the other two.

Recovery follows the same principle. Users can restore access through a combination of email verification, biometric FaceLock, and an encrypted recovery file backed up to iCloud or Google Drive. Trusted contacts can also authorize recovery requests through a social recovery system. This replaces the brittle paper seed phrase with multi-factor recovery that is both more resilient and easier to use.

The cryptographic core of ZenGo's MPC implementation is partially open source, allowing external researchers to audit the primitives. The wallet application itself is closed source.

Supported Assets and Chains

ZenGo supports more than 100 cryptocurrencies across major networks including Bitcoin, Ethereum, Solana, BNB Chain, TRON, Polygon, Base, Optimism, Arbitrum One, Dogecoin, and Tezos. The wallet handles ERC-20 tokens and NFT management, with WalletConnect integration providing access to dApps across supported chains.

Fiat onramps are built directly into the app through third-party payment processors, with bank transfer purchase fees of 1.99% and credit card fees of up to 5.99%. In-app crypto swaps carry fees of 0.75% to 2% depending on asset pair and method.

Solana Integration

ZenGo added Solana support through a grant from the Solana Foundation—the grant was specifically to fund the MPC wallet integration work required to support Solana's signing architecture on mobile. SOL holders can store, send, and receive Solana through ZenGo's standard interface, and the wallet offers Solana staking with automatic delegation and reward handling managed by the platform, removing the need to manually track validator selection or claim cycles. ZenGo CEO Ouriel Ohayon appeared on Solana's Validated podcast to discuss the broader case for MPC-based self-custody without seed phrases in the Solana ecosystem.

ZenGo Pro

ZenGo operates a freemium model with a paid tier called ZenGo Pro, priced at $19.99 per month or $199.99 per year.

Pro adds:

• Web3 Firewall: Simulates transactions before signing, flags suspicious contract interactions, and applies real-time risk signals to give users friction before dangerous approvals.
• Legacy Transfer: A programmable inheritance system that designates beneficiaries and enforces conditions for automated asset transfer, addressing the common problem of crypto assets becoming inaccessible after the owner's death.
• Priority Support: Response times under one hour from a dedicated 24/7 support team.
• Advanced Withdrawals: The ability to bypass daily withdrawal limits when needed.

The free tier retains core MPC security, biometric login, basic swaps, and standard WalletConnect dApp access, making the security model available to users who do not subscribe.

Security Track Record and Audits

ZenGo's claim of zero hacks since its 2018 launch is independently significant in a space where wallet exploits, phishing, and key theft cost users hundreds of millions annually. The wallet undergoes regular professional security audits, with CertiK among the firms that have reviewed the codebase. The Web3 Firewall in ZenGo Pro extends security to the transaction layer, protecting against the drain-attack vectors that bypass key security entirely by tricking users into signing malicious approvals.

The core tradeoff in ZenGo's model is service dependency: because one of the three MPC shares resides on ZenGo's infrastructure, signing requires a live connection to ZenGo's servers. Fully air-gapped, offline signing is not possible, and users rely on ZenGo's operational continuity. The company has published documentation on recovery procedures in the event of a service disruption, and the third-party custodian share provides a continuity backstop.

eToro Acquisition

On April 15, 2026, eToro Group—which had conducted a successful IPO in 2025—announced it would acquire ZenGo for approximately $70 million, primarily in cash. The deal was eToro's first acquisition post-IPO and reflected a strategic bet that retail finance is moving toward on-chain, self-custodial infrastructure.

ZenGo continues to operate as a standalone product within eToro's ecosystem. By design, ZenGo's non-custodial wallet sits outside eToro's MiCA-regulated services—an intentional architectural choice that allows eToro to offer on-chain access and DeFi connectivity without importing regulatory liability into its licensed brokerage operations. The combined entity targets use cases including tokenized assets, prediction markets, and perpetual futures as those markets mature.

Ecosystem Position

ZenGo's MPC model positions it as a consumer-facing bridge between the security guarantees of hardware wallets and the accessibility of exchange-hosted accounts. It targets users who want true self-custody—where ZenGo itself cannot move user funds—but who are unwilling to accept the key management risk of traditional software wallets or the cost and complexity of hardware devices.

For the Solana ecosystem specifically, ZenGo adds a significant user acquisition surface. Its 2 million-user base and fiat onramp infrastructure can bring mobile-first retail users into Solana without forcing them through the SOL-denominated seed phrase setup that has historically caused friction for new entrants. Solana staking inside ZenGo's interface extends that accessibility to yield generation, reducing the activation energy for new SOL holders to participate in network security.