eToro led a $12.5 million funding round for Extended, an on-chain perpetual futures exchange built on Starknet. The investment initiates a partnership to integrate Extended's derivatives engine with the Zengo self-custody wallet.
Extended supports more than 100 markets spanning crypto, equities, foreign exchange and commodities. Co-founder Ruslan Fakhrutdinov, former head of crypto at Revolut, built the exchange with a team of former Revolut employees.
The deal builds on eToro's acquisition of Zengo, announced in April and valued at approximately $70 million. Zengo co-founder and CEO Ouriel Ohayon said joining eToro would expand access to self-custody and on-chain finance.
Pairing Zengo's self-custodial wallet with Extended's derivatives engine lets eToro offer on-chain perpetuals to users who retain control of their own assets.
eToro's move reflects a broader push among retail brokerages into on-chain trading. Robinhood recently launched the public mainnet for Robinhood Chain, an Arbitrum-based Layer 2 focused on financial services and real-world assets.
