eToro joins Extended as a strategic investor
eToro has become a strategic investor in Extended, an onchain perpetual futures exchange, according to a post published by Extended. The company said the funding round also starts a partnership between Extended and Zengo, the self-custody wallet provider that eToro acquired earlier this year.
In a post on X, Extended said eToro "is now a strategic investor" and said the partnership will focus on "expanding access to global financial markets through next-generation on-chain infrastructure." It described the deal as a step toward bridging traditional financial assets and decentralized trading environments.
Deal size was not disclosed in company statements
Neither eToro nor Extended disclosed the size of the investment in their own statements, and neither had published a standalone press release on the transaction at the time of publication. CoinDesk reported that the round totaled $12.5 million.
Extended runs on Starknet and lists more than 100 markets
Extended is a perpetuals decentralized exchange built on Starknet. It was founded by former Revolut employees, including Ruslan Fakhrutdinov, the fintech company’s former crypto head.
According to Extended’s own documentation, the exchange supports more than 100 markets across crypto, equities, foreign exchange, and commodities. That kind of cross-asset venue lines up with eToro’s stated interest in linking trading access with a self-custody wallet.
Zengo acquisition set the stage
The investment builds on eToro’s acquisition of Zengo. The two companies announced that deal in April, and Bloomberg and other outlets reported at the time that it was worth roughly $70 million.
In its own release on the acquisition, 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 allow the wallet to "expand access to self-custody and on-chain finance."
Combining Zengo’s custody stack with Extended’s derivatives engine would give eToro a way to offer onchain perpetuals to wallet users while those users keep control of their assets.
Retail brokers keep adding onchain products
The move puts eToro alongside other retail brokerages pushing deeper into onchain trading. Robinhood this week launched the public mainnet of Robinhood Chain, its Arbitrum-based Layer 2 for financial services and real-world assets, as brokers work to expand beyond basic crypto spot trading.