eToro leads $12.5M round for on-chain derivatives platform Extended

eToro has led a $12.5 million funding round for Extended, an on-chain derivatives platform. According to CoinDesk, the investment is part of an expansion of services for the crypto wallet Zengo, which eToro acquired in April, and signals a clear on-chain strategy for the company. eToro plans to introduce perpetual futures trading to Zengo, allowing users to access on-chain derivatives while maintaining self-custody of their assets. The media outlet noted that perpetual futures, once a niche market, have become one of the fastest-growing sectors in the industry, with traditional brokers like eToro now entering the space and intensifying competition.