eToro has become a strategic investor in Extended, an onchain perpetual futures exchange, and tied the round to a partnership with Zengo, the self-custody wallet it acquired earlier this year. Neither company disclosed the size of the investment, though CoinDesk reported the round totaled $12.5 million.
eToro has become 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 eToro acquired earlier this year. Extended announced the investment in a post on X, saying eToro "is now a strategic investor".
But 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. CoinDesk reported the round totaled $12.5 million.
Extended lists more than 100 markets on Starknet
Extended is a perpetuals 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 venue supports more than 100 markets spanning crypto, equities, foreign exchange and commodities. eToro said it wants to connect that kind of cross-asset decentralized exchange to a self-custody wallet.
Zengo supplies the self-custody side
The investment builds on eToro’s acquisition of Zengo, a self-custodial wallet provider, which the two companies announced in April. Bloomberg and other outlets reported the deal 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.
Together, Zengo’s custody and Extended’s derivatives engine would let eToro offer onchain perpetual futures to wallet users who keep control of their own assets.
Retail brokers push further onchain
The move places eToro alongside other retail brokerages pushing into onchain trading. Robinhood launched the public mainnet of Robinhood Chain, its own 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
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