eToro leads $12.5m for Extended on-chain perpetual contracts
eToro will lead a $12.5m strategic funding round for Extended, an on-chain perpetual contracts exchange. Jump Crypto and Alber Blanc also participated. The move underlines ongoing institutional support for on-chain derivatives infrastructure.
Extended, led by former Revolut crypto head Ruslan Fakhrutdinov, has handled $245bn+ in trading volume (as of June) and offers 100+ perpetual markets. Beyond perpetuals, the platform plans to expand toward spot, tokenized RWA, and multi-asset collateral.
Integration is the key: eToro plans to embed Extended’s perpetual contracts engine into Zengo, the self-custody wallet eToro bought for $70m. Users would keep custody while trading on-chain derivatives. eToro also signaled plans to add broader DeFi products across its core platform.
For traders, this could improve access and liquidity routing for on-chain perpetual contracts. Near-term impact will depend on rollout speed, execution risk, and prevailing market conditions.
Neutral
The funding and eToro–Zengo integration strengthen distribution and could improve liquidity routing for on-chain perpetual contracts. That is constructive for perp activity and ecosystem adoption. However, the news does not directly change any single listed cryptocurrency’s fundamentals, and the near-term trading impact will hinge on execution quality and rollout timing rather than immediate price catalysts. Overall, it supports derivatives infrastructure growth without a clear, immediate directional effect on a specific token price.