eToro has become a strategic investor in Extended, an onchain perpetual futures exchange, and said the round begins a partnership with Zengo, the self-custody wallet eToro acquired earlier this year. Neither company disclosed the investment size.
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, according to a post from Extended.
Extended said on X that 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,” describing it as a step toward “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. CoinDesk reported the round totaled $12.5 million.
Extended is a perpetuals decentralized exchange built on Starknetfounded by former Revolut employees including Ruslan Fakhrutdinov, the fintech’s former crypto head. According to Extended’s own documentationthe 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.
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,” and 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.
The move places eToro alongside other retail brokerages pushing into onchain trading. Robinhood this week launched the public mainnet of Robinhood Chainits 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.