TLDR
- eToro spearheaded a $12.5 million investment in Extended, a decentralized perpetual futures trading platform
- This strategic move connects to eToro’s previous $70 million purchase of Zengo, a self-custody wallet provider
- Extended’s founding team includes former Revolut executives and has facilitated more than $245 billion in total trading activity
- eToro intends to embed Extended’s derivatives trading infrastructure within the Zengo wallet application
- Competing platforms including Robinhood and Coinbase are similarly expanding their onchain and perpetual futures capabilities
eToro has spearheaded a $12.5 million investment round for Extended, an emerging platform focused on building decentralized infrastructure for perpetual futures trading. The funding round also attracted participation from Jump Crypto and Alber Blanc.
Extended’s leadership includes Ruslan Fakhrutdinov, who previously served as Revolut‘s head of cryptocurrency operations, alongside several other former Revolut team members. The platform made its debut in the final months of 2024 and operates on StarkEx, StarkWare’s layer-2 scaling solution.
By June, Extended had facilitated in excess of $245 billion in cumulative trading activity across more than 100 different perpetual contract markets.
Extended Investment Aligns With eToro’s Decentralized Finance Vision
This funding announcement arrives on the heels of eToro’s $70 million purchase of Zengo, a non-custodial cryptocurrency wallet service, which was revealed in April. Zengo’s architecture relies on multi-party computation protocols, eliminating the requirement for conventional recovery seed phrases.
eToro’s strategy involves integrating Extended’s perpetual futures trading technology directly within the Zengo wallet interface. This integration will enable users to execute onchain derivative transactions while maintaining full custody of their digital assets.
Elad Lavi, who serves as eToro’s executive vice president overseeing corporate development and strategy, indicated that the company is witnessing increasing user appetite for decentralized finance capabilities. He characterized both the Zengo acquisition and the Extended investment as fundamental components of this strategic direction.
Looking ahead, eToro also plans to incorporate DeFi offerings into its primary brokerage services.
During Q1 2026, eToro generated $13 million in cryptocurrency-related profit, representing roughly 5% of its overall net trading profit of $258 million. This marked a decline from $46 million during the corresponding period in 2025.
Traditional Brokers Accelerate Onchain Development
eToro’s initiative isn’t happening in isolation. Coinciding with this announcement, competing brokerage Robinhood unveiled its proprietary blockchain network, broadened its tokenized securities program, and announced intentions to introduce perpetual futures contracts for commodities including gold and crude oil.
Coinbase has likewise moved into the perpetual futures arena. Prediction market platform Kalshi has also made recent moves into this trading category.
Perpetual futures contracts, which originated as specialized cryptocurrency instruments, are now being applied to equity indices, commodity markets, and various real-world asset classes by major trading venues.
Extended has outlined plans for its upcoming development phase, which encompasses expansion into spot trading markets, tokenized real-world assets, and support for multi-asset collateralization.
Ouriel Ohayon, serving as managing director at Zengo, noted that traditional capital markets are progressively merging with blockchain-based financial infrastructure, suggesting that tomorrow’s trading environment will function continuously around the clock.
The concurrent initiatives from eToro, Robinhood, and Coinbase signal a comprehensive industry shift toward developing unified platforms capable of supporting both conventional financial instruments and cryptocurrency products simultaneously.
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