TheBlock
eToro has led a $12.5 million round in Extended, the onchain perpetual-futures exchange built around a self-custody wallet. Jump Crypto also participated. The funding closes the loop on eToro's earlier acquisition of Zengo, a multi-party-computation wallet, and positions Extended as the order-book perps engine that bolts onto that wallet.
Why it matters
The deal is the first visible proof that eToro intends to use Zengo as more than a custody product. Extended's order-book model combined with a self-custody key stack gives the broker a regulated on-ramp into leverage without forcing users to surrender seed phrases to a centralized venue. For Jump, the participation is a long-running thesis that onchain perps will eat share from off-shore perpetual books.
Market impact
A retail broker with eToro's distribution behind a perps venue with a self-custody key stack raises the bar for what users will accept from incumbent offshore perps. Watch whether Extended's volume prints accelerate alongside the wallet integration, and whether other TradFi brokers try to attach order-book perps to their own wallets before the year is out.
Frequently asked questions
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What is Extended and what does eToro's $12.5M round fund?
Extended is an onchain perpetual-futures exchange built around a self-custody wallet. eToro's $12.5M round, joined by Jump Crypto, funds the buildout that ties Extended's order-book perps directly into the Zengo wallet eToro acquired earlier in 2026.
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How does this round relate to eToro's Zengo acquisition?
The investment converts the earlier Zengo wallet acquisition into a product: Extended becomes the order-book perps engine bolted onto a self-custody key stack sitting inside the eToro broker app.
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Why is Jump Crypto participating?
Jump Crypto has been a long-running thesis investor in onchain perps. Its participation signals continued conviction that decentralized perpetual books will keep taking share from off-shore centralized venues.
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What does self-custody perps inside a regulated broker change for users?
Users get leverage through an order-book venue without handing a centralized exchange control of their seed phrase. The broker provides the regulated wrapper and distribution, while the wallet holds the keys via multi-party computation.
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What should traders watch next after this round?
Watch Extended's volume prints after the wallet integration goes live, and whether other TradFi brokers move to attach order-book perps to their own self-custody wallets before year-end.
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