eToro led a $12.5M round for Extended, an onchain perpetual futures platform from ex-Revolut staff. The deal targets a DeFi integration point for eToro's self-custody wallet users.
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eToro moved deeper into decentralized finance by backing Extended, an onchain perpetual futures platform founded by ex-Revolut employees. The broker led a $12.5 million round with Jump Crypto and Alber Blanc. The deal follows eToro's $70 million acquisition of Zengo, a self-custody wallet provider, in April.
eToro said the money supports client demand for DeFi products. Extended runs an onchain perpetual futures exchange that has processed over $245 billion in volume. The platform lists more than 100 perpetual markets spanning crypto and other assets.
Elad Lavi, eToro executive vice president, linked the deal to user demand. “We are seeing growing demand from our users for seamless access to DeFi products,” Lavi said. He added that Zengo and Extended support eToro’s Web3 services plan.
The planned integration would connect Extended’s perpetual futures engine with the Zengo wallet. Users could trade derivatives while keeping custody of assets. That structure targets wallet-based access to advanced market products without moving users off self-custody tools.
Perpetual futures remain a large crypto trading product because they have no expiry date. Platforms now list contracts tied to bitcoin, equities, commodities, and real-world assets. The format puts crypto markets and traditional finance in the same trading shape.
Ruslan Fakhrutdinov, Extended’s founder and former Revolut crypto head, described the company’s next stage. “The first phase was building for DeFi natives,” Fakhrutdinov said. He said the next phase needs infrastructure and partnerships for onchain derivatives growth.
The eToro investment comes as brokers build blockchain-based trading services for mainstream users. Robinhood launched its own blockchain and expanded tokenized stock products. It plans commodity perpetual futures tied to assets such as gold and oil. Coinbase has pushed into perpetual futures, while Kalshi entered the same market. These moves show how brokers, crypto exchanges, and prediction markets now compete across similar product sets.
“The lines between capital markets and digital asset infrastructure are blurring,” said Zengo managing director Ouriel Ohayon. He called eToro’s Extended investment a bet on accessible trading that runs 24/7, beyond the traditional trading week.
eToro Leads $12.5M Round in Perpetual Futures Platform Extended
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