eToro has become a strategic investor in Extended, an onchain perpetual futures exchange, and the round opens a partnership between Extended and Zengo, the self-custody wallet eToro acquired earlier this year. Neither company disclosed the size of the investment, though CoinDesk reported the round totaled $12.5 million.
Retail broker eToro is now a strategic investor in Extended, an onchain perpetual futures exchange, and said the funding round marks the start of a partnership between Extended and Zengo — the self-custody wallet the broker acquired earlier this year — according to a post from Extended.
In that post, Extended said eToro "is now a strategic investor" and that the partnership will focus on expanding access to global financial markets through next-generation on-chain infrastructure, a step it described as bridging traditional financial assets and decentralized trading environments.
Neither eToro nor Extended disclosed the size of the investment in their own statements, and neither had published a dedicated press release on the deal as of publication. However, CoinDesk reported the round totaled $12.5 million.
Extended runs perps on Starknet
Extended is a perpetuals decentralized exchange built on Starknet, founded by former Revolut employees including Ruslan Fakhrutdinov, the fintech's former crypto head. According to Extended's own documentation, the exchange supports more than 100 markets spanning crypto, equities, foreign exchange and commodities — the kind of cross-asset venue eToro said it wants to connect to a self-custody wallet.
Zengo supplies the custody layer
The investment builds on eToro's acquisition of Zengo, a self-custodial wallet provider, which the two companies announced in April in a deal Bloomberg and other outlets reported was worth roughly $70 million. In its own release, eToro said the Zengo deal was meant to accelerate its strategy of connecting traditional finance with on-chain infrastructure. Zengo co-founder and CEO Ouriel Ohayon said joining eToro would let the wallet expand access to self-custody and on-chain finance.
Pairing Zengo's custody with Extended's derivatives engine would let eToro offer onchain perpetuals to wallet users who keep control of their own assets.
Brokers race into onchain trading
The move places eToro alongside other retail brokerages pushing into onchain trading. Robinhood this week launched the public mainnet of Robinhood Chain, its Arbitrum-based Layer 2 for financial services and real-world assets, as brokers race to build out onchain product suites and move beyond simple crypto spot trading.
Source: The Defiant
Trading involves risk.
Risk Disclaimer
