eToro Leads $12.5M Round for Onchain Perps Platform Extended
eToro led a $12.5M round for Extended, a perpetuals exchange it will integrate into its recently acquired self-custodial wallet, Zengo.
Retail broker eToro led a $12.5 million funding round for Extended, an onchain perpetual futures platform founded by former Revolut employees, with plans to integrate it into the self-custodial wallet they acquired in April.
What's the Scoop?
- The Zengo Integration: Similar to Robinhood's announcement yesterday, eToro will integrate Extended's perpetual futures engine directly into Zengo, the self-custody wallet it acquired for $70 million in April. Over time, eToro plans to bring broader DeFi products into its core platform.
- Everyone Wants to be the Everything-Exchange: eToro is the latest contestant to enter the race to become the "Everything-Exchange," a phrase increasingly synonymous with providing perpetuals. Yesterday,
Robinhood announced its own perps offerings via Lighter. 
Coinbase has increasingly offered perpetuals for stocks while Kalshi and 
Polymarket release perpetuals of their own.
David Christopher
David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
