EToro invests in onchain derivatives platform Extended as brokers race into DeFi
eToro has led a $12.5 million funding round for the onchain derivatives platform Extended, aiming to integrate perpetual futures into its Zengo wallet. This move reflects a broader industry trend where traditional digital brokerages are aggressively expanding their DeFi and blockchain-based trading infrastructure.
Why it matters
The integration signals a shift in retail finance where traditional brokers are blurring the lines between centralized platforms and decentralized finance to meet user demand for onchain assets.
The company led a $12.5 million funding round for Extended, an onchain perpetual futures exchange founded by former employees of London-based fintech Revolut. Jump Crypto and Alber Blanc also participated in the round.
The article reports on corporate strategy and market competition without taking a stance on the efficacy of the technology.
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