eToro leads $12.5 million investment in Extended as it eyes perpetual futures integration with Zengo

Extended has raised a $12.5 million strategic funding round led by eToro with participation from Jump Crypto, as the onchain perpetual futures exchange moves to deepen ties with eToro’s recently acquired self-custody wallet Zengo. Founded by former Revolut employees, Extended launched public trading in late 2024 and runs on StarkWare’s StarkEx infrastructure, a validity-rollup system designed for high-throughput, lower-cost trading while settling on Ethereum. The companies plan to integrate Extended’s perpetual futures engine into Zengo, allowing users to trade onchain derivatives while retaining custody of their assets. The move fits eToro’s broader effort to build out its Web3 and DeFi offering for retail users following its April acquisition of Zengo, which was estimated at a $70 million valuation and uses multi-party computation, or MPC, to remove the need for seed phrases. The investment also highlights a broader shift among retail brokerages toward partnering with specialized onchain infrastructure providers rather than building decentralized derivatives systems in-house. That trend has gained visibility as Robinhood launched perpetual futures through Lighter in Europe and Coinbase expanded its international derivatives business with 24/7 perpetual futures tied to U.S. stocks and ETFs. The push comes as eToro’s crypto profit fell to $13 million in Q1 2026, about 5% of total net trading profit of $258 million, down from $46 million in the same quarter of 2025.