The broker aims to integrate perpetual futures into the Zengo wallet and broaden its DeFi offerings, aligning with competitors like Robinhood who are enhancing their onchain services.
By Krisztian Sandor|Edited by Sheldon Reback Jul 2, 2026, 5:00 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on eToro CEO Yoni Assia. (Vanja Savic/Wikimedia Commons)SummaryShow- eToro led a $12.5 million funding round for Extended, a startup focused on onchain derivatives and founded by former Revolut crypto executive, with participation from Jump Crypto and Alber Blanc.
- This investment is part of eToro's larger initiative to enhance DeFi offerings for its users, according to executive VP Elad Lavi.
- This strategic move coincides with Robinhood's expansion into blockchain, including tokenized stocks and perpetual futures, as the distinction between crypto exchanges and traditional brokerages diminishes.
eToro (ETOR) is intensifying its focus on decentralized finance (DeFi) as online brokerages strive to introduce blockchain-based trading to a wider audience.
The firm spearheaded a $12.5 million funding round for Extended, a platform specializing in onchain perpetual futures and established by ex-employees of London's fintech Revolut. Notable backers included Jump Crypto and Alber Blanc.
This funding builds on eToro's previous $70 million acquisition of Zengo, a self-custody wallet, which was revealed in April, providing further insight into eToro's onchain direction.
According to Elad Lavi, eToro's executive VP of corporate development and strategy, "We are observing a rising interest from our users for easy access to DeFi products. Our recent acquisition of Zengo and our investment in Extended are crucial components of our plan to satisfy this demand and enhance our Web3 ecosystem."
eToro intends to incorporate Extended's perpetual futures capabilities within the Zengo wallet, enabling users to access onchain derivatives while maintaining control of their assets.
In the long run, the broker aims to introduce a broader range of DeFi products on its main platform, as stated by Lavi.
The competition in onchain trading
This initiative comes amid a growing competitive landscape among digital brokerages, which are pivoting towards blockchain-based trading frameworks. Recently, rival Robinhood launched its own blockchain, broadened its offering of tokenized stocks, and announced plans to diversify its perpetual futures trading into commodities like gold and oil.
Perpetual futures, once considered a niche product in crypto, are rapidly becoming one of the most dynamic sectors in the market. In addition to cryptocurrencies such as bitcoin, trading platforms are now offering contracts linked to equities, commodities, and other tangible assets, further merging the crypto and traditional finance realms.
Extended, led by former Revolut crypto chief Ruslan Fakhrutdinov, reported processing over $245 billion in trading volume by June and supports more than 100 perpetual markets, as per company data.
The company plans to branch out into spot trading, tokenized real-world assets, and multi-asset collateral.
Fakhrutdinov remarked, "The initial phase focused on serving DeFi natives. The next phase involves expanding the infrastructure and partnerships essential for the subsequent development of onchain derivatives."
This investment reflects a larger trend towards establishing what could be called the "everything exchange" or "everything app" within financial markets. Companies like Coinbase (COIN) have ventured into perpetual futures, while Robinhood is integrating tokenized stocks with event contracts and commodity futures. Prediction market operator Kalshi has also entered the perpetual futures domain.
As trading continues to transition to a blockchain format, the distinctions between brokerages, crypto exchanges, and prediction markets are becoming increasingly blurred.
Ouriel Ohayon, managing director at Zengo, stated, "Capital markets are progressively merging with digital asset infrastructure. eToro's investment in Extended underscores a shared belief that the future of trading will be digital, accessible, and operational around the clock, transcending the conventional trading week."
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