eToro is leading a $12.5 million funding round in Extended, an onchain perpetual futures exchange, as the publicly traded brokerage deepens its push into decentralized finance infrastructure.
eToro is leading a $12.5 million funding round in Extended, an onchain perpetual futures exchange, as the publicly traded brokerage deepens its push into decentralized finance infrastructure.
The investment positions eToro as the lead backer of Extended, a platform built to offer perpetual swap contracts directly onchain rather than through centralized order books, according to a CoinDesk report published July 2. For related coverage, see CNN: Trump Made More Than $1 Billion on Crypto While Many TRUMP Coin Holders Lost Money.
The round totals $12.5 million with eToro serving as lead investor. Extended operates as an onchain perpetual futures exchange, a category of trading venue where contracts have no expiration date and settle directly on a blockchain. For related coverage, see SBI Winds Down Bitcoin Mining Pool After Five Years.
Perpetual swaps have become one of the highest-volume product types in crypto trading. Unlike traditional futures that expire on set dates, perps let traders hold leveraged positions indefinitely, with periodic funding payments keeping contract prices aligned with spot markets.
Extended's approach removes the centralized intermediary from that process. According to the project's documentation, the exchange executes trades through smart contracts, giving users direct custody of their funds throughout the trading process.
eToro is not a crypto-native venture fund. The company completed its US IPO after a four-year journey and subsequently debuted on Nasdaq at $52, exceeding initial forecasts. Its decision to lead a round in an onchain derivatives protocol signals that regulated brokerages see decentralized trading infrastructure as a strategic priority.
The brokerage has been building its crypto capabilities beyond its core platform. eToro previously expanded its self-custodial crypto capabilities through the acquisition of Zengo, a wallet provider focused on keyless security architecture.
That acquisition and this new investment in Extended suggest a pattern: eToro is assembling exposure across the DeFi stack, from self-custody wallets to onchain trading venues. The company has reaffirmed its commitment to crypto even during periods of lower trading activity.
A multimillion-dollar raise led by a publicly listed brokerage carries weight for the onchain perpetuals sector. It suggests that institutional capital views decentralized derivatives exchanges as viable businesses, not just experimental protocols.
Extended's funding could accelerate product development, liquidity incentives, and market expansion at a time when competition among onchain perps platforms remains intense. The raise positions the exchange to invest in the infrastructure needed to attract traders away from centralized alternatives.
For eToro, backing Extended provides a window into how decentralized trading technology evolves, information that could shape the brokerage's own product roadmap as the boundary between traditional and onchain finance continues to narrow.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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