EToro invests in onchain derivatives platform Extended as brokers race into DeFi
The broker plans to bring perpetual futures into Zengo wallet and expand DeFi products to its core platform as rivals like Robinhood expand onchain offerings.
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Summary
- Digital broker eToro led a $12.5 million funding round for onchain derivatives platform Extended, a startup led by Revolut’s former crypto head, and plans to integrate perpetual futures into crypto wallet Zengo.
- The investment is part of a broader strategy to bring DeFi products to its users, eToro executive VP Elad Lavi said.
- The move comes as rival Robinhood expands its own blockchain ambitions with tokenized stocks and perpetual futures, while the lines between crypto exchanges, prediction markets and traditional brokerages increasingly blur.
