eToro leads $12.5M round in onchain derivatives platform Extended

Online brokerage eToro has led a $12.5 million strategic funding round in Extended, an onchain exchange for perpetual futures, as part of a broader push into decentralized finance and onchain derivatives. The investment, announced on July 2, is tied to a partnership with Zengo, the selfcustody wallet eToro acquired earlier this year.

The partnership will focus on expanding access to global financial markets through nextgeneration onchain infrastructure, eToro said. The companies plan to explore ways to bridge traditional financial assets with decentralized trading environments. Jump Crypto also participated in the funding round.

Extended was founded by former Revolut employees and opened trading to all users in late 2024. The platform is built on StarkWare's StarkEx scaling engine and focuses on perpetual futures, a type of derivative contract with no expiry date. The company said it had processed more than $245 billion in trading volume as of June and supports more than 100 perpetual markets.

eToro plans to integrate Extended's perpetual futures engine directly into the Zengo wallet, giving users access to onchain derivatives while retaining custody of their assets. Zengo's...