Funding Round: $12.5M Strategic Raise
On-chain perpetual contract exchange Extended has announced the completion of a $12.5 million strategic funding round, as reported by The Block. The round was led by multi-asset trading platform eToro, with participation from prominent crypto venture capital firm Jump Crypto. The capital will be used to accelerate product development, expand partnerships, and facilitate the integration of traditional finance with decentralized trading infrastructure.
Investor Background and Strategic Intent
Notably, this investment is closely linked to eToro's acquisition of self-custody wallet Zengo earlier this year. Zengo is known for its seedless wallet technology based on Multi-Party Computation (MPC), which eToro is currently integrating into its brokerage platform to strengthen digital asset service capabilities. eToro stated that both parties are committed to expanding global financial market access through next-generation on-chain infrastructure and exploring opportunities to merge traditional financial assets with decentralized trading environments. This move signals eToro's shift from a traditional brokerage toward the decentralized finance ecosystem, with Extended serving as a key component in its derivatives strategy.
Jump Crypto's participation further underscores institutional interest in this sector. As a leading market maker and investment firm, Jump Crypto brings deep experience in perpetual contract infrastructure, potentially providing liquidity and ecosystem support to Extended.
Technical Architecture and Product Progress
Extended was founded by former Revolut employees and is built on StarkWare's scaling engine StarkEx. StarkEx leverages zero-knowledge proof (ZK-Rollup) technology to deliver high throughput and low transaction costs while maintaining security, making it ideal for high-frequency, low-latency scenarios like perpetual contracts. The exchange launched in late 2024 and is actively expanding its market presence.
Meanwhile, eToro is integrating Zengo's MPC-based seedless wallet technology into its platform to further enhance its digital asset technology ecosystem. This integration will provide users with a more secure and seamless on-chain experience, laying the groundwork for Extended to onboard traditional finance users in the future.
Conclusion
This funding round marks a significant milestone for on-chain derivatives trading, demonstrating growing recognition from mainstream financial platforms. The involvement of eToro and Jump Crypto not only provides capital and resources for Extended but also signals a deepening trend of convergence between traditional finance and decentralized trading. As scaling technologies like StarkEx mature, on-chain perpetual contract exchanges may become a vital bridge connecting traditional assets and the crypto world.