eToro leads $12.5M funding round for Extended perpetual futures
In brief
- eToro led $12.5M funding round for Extended, an onchain perpetual futures exchange.
- Extended's trading engine will integrate into Zengo, eToro's $70M self-custody wallet acquired in April.
- Partnership aims to bridge traditional financial assets with decentralized trading environments.
Integration into Zengo
eToro plans to integrate Extended's perpetual futures engine directly into the Zengo wallet, allowing users to access onchain derivatives trading without leaving their self-custody interface. The investment round also marks the beginning of a partnership between Extended and Zengo, positioning the two platforms to work in tandem. This move deepens eToro's commitment to decentralized finance after the Zengo acquisition.
Bridging Traditional and Decentralized Finance
The companies will also explore ways to connect traditional financial assets with decentralized trading environments. Over time, eToro plans to introduce a broader range of DeFi products within its main platform. This reflects a broader industry shift. Competition among digital brokerages is shifting toward blockchain-based trading infrastructure.
Rivals are moving fast. Robinhood unveiled its own blockchain and expanded its tokenized stock offering, while also outlining plans to extend its perpetual futures business beyond crypto assets into commodities including gold and oil. eToro's Extended partnership positions it to compete on similar terrain.
