eToro has led a $12.5 million strategic funding round in Extended, an onchain exchange focused on perpetual futures, with Jump Crypto also joining the deal. The investment adds a new derivatives layer to eToro’s digital asset strategy, which is increasingly centered on self-custody, onchain trading, and decentralized market access.
The move is tied to eToro’s earlier acquisition of Zengo, a self-custody wallet that was valued at about $70 million at the time, according to previous reporting. eToro said the partnership will explore ways to expand access to global financial markets through onchain infrastructure and look for opportunities to connect traditional financial assets with decentralized trading environments.
Zengo gives eToro a direct self-custody layer
Founded in 2018, Zengo uses multi-party computation, or MPC, to remove the need for seed phrases while preserving self-custody. The wallet also supports token swaps, staking, and access to decentralized applications. For brokerage platforms trying to connect centralized accounts with onchain services, that wallet layer has become a practical part of product design rather than a side feature.
eToro’s investment in Extended shows the company is looking beyond wallet technology alone. It is also moving closer to onchain derivatives, one of the busiest segments in DeFi. Perpetual futures remain a core crypto trading product because they let traders take leveraged exposure without a fixed expiry date. For retail brokerages, that creates a route into crypto-native market structure without relying only on centralized exchange rails.
Extended is building on StarkEx
Extended was founded by former Revolut employees and opened trading in late 2024. The platform runs on StarkWare’s StarkEx scaling engine, giving it onchain settlement infrastructure designed for higher-throughput trading. That places the company in a competitive market where transparency of collateral, wallet-based execution, and access to global liquidity have helped onchain derivatives platforms gain traction.
Competition remains tight. Liquidity depth, liquidation design, smart contract risk, and user experience all shape whether a venue can scale. Backing from eToro and Jump Crypto could help Extended strengthen liquidity and pursue more integrations. Strategic capital from a retail trading platform can also open paths to distribution and product partnerships, not just balance-sheet support.
Why the deal matters for eToro’s crypto business
The investment comes after a weaker stretch for eToro’s crypto trading revenue. In May, the company reported $13 million in crypto profit for Q1 2026, equal to about 5% of total net trading profit of $258 million. In the same period of 2025, crypto profit was $46 million. The gap helps explain why eToro may be looking beyond spot trading as a standalone growth engine.
Self-custody wallets, onchain infrastructure, and derivatives access give the company more than one way to serve crypto users. Zengo provides the wallet layer; Extended gives eToro a stronger foothold in onchain perpetuals. Taken together, the deals show a brokerage trying to keep pace as activity shifts across centralized platforms, self-custody wallets, and onchain venues.