eToro Leads $12.5M Extended Round as DeFi Perp Race Heats

eToro led a $12.5 million investment round in Extended, an onchain perpetual futures platform. Jump Crypto and Alber Blanc also participated.

Extended was founded by Ruslan Fakhrutdinov, former head of Revolut’s crypto division, and several other former Revolut staff. The platform launched in late 2024 on StarkWare’s StarkEx scaling tech. By June it had processed more than $245 billion in trades across over 100 perpetual contract markets.

The investment follows eToro’s $70 million acquisition of Zengo, a self-custody wallet that uses multi-party computation instead of seed phrases. eToro plans to plug Extended’s perpetual infrastructure directly into the Zengo wallet, letting users trade onchain derivatives while keeping custody of their assets.

Elad Lavi, eToro’s EVP of corporate development and strategy, said user demand for DeFi features is rising and called both the Zengo deal and Extended backing core to the company’s direction. eToro also aims to add DeFi offerings to its main brokerage service.

In Q1 2026 eToro booked $13 million in crypto-related profit, about 5% of its $258 million total net trading profit. That was down from $46 million in Q1 2025.

eToro’s push is part of a wider industry shift. Around the same time Robinhood launched its own blockchain, expanded tokenized equities, and said it would introduce perpetual futures on gold and crude oil. Coinbase has moved into perpetuals too. Kalshi, the prediction market platform, recently entered the segment.

Extended plans to add spot trading, tokenized real-world assets, and multi-asset collateral in its next development phase. Ouriel Ohayon, Zengo’s managing director, said traditional capital markets and digital asset technology are converging and predicted future trading will run around the clock.