The investment aims to integrate perpetual futures into eToro’s Zengo wallet as brokers expand DeFi offerings.
Digital broker eToro has led a $12.5 million funding round for Extended, an onchain derivatives platform founded by former Revolut crypto executives. The investment is part of eToro’s strategy to expand decentralized finance (DeFi) products, including perpetual futures, to its users via the Zengo wallet acquired in April for $70 million.
The move follows rival Robinhood’s push into tokenized stocks and onchain derivatives, reflecting broader industry shifts as traditional brokerages adopt blockchain-based trading. Extended’s platform will enable eToro to offer seamless DeFi access, addressing growing user demand for such products.
eToro’s executive VP Elad Lavi highlighted the company’s focus on bridging traditional finance with DeFi, signaling a competitive race among brokers to capture mainstream adoption of onchain trading tools.