eToro Leads $12.5 Million Extended Funding Round to Expand On-Chain Derivatives
Summary
- Global trading platform eToro led a $12.5 million funding round for on-chain derivatives platform Extended.
- The investment is part of a strategy to expand its on-chain business around crypto wallet Zengo, which eToro acquired in April.
- eToro plans to add perpetual futures trading to Zengo to support on-chain derivatives trading, while the perpetual futures market has become one of the industry's fastest-growing segments.
Forecast Trend Report by Period
Global trading platform eToro is expanding its decentralized finance business after leading a $12.5 million funding round for on-chain derivatives platform Extended.
CoinDesk reported on July 2 that eToro led the $12.5 million round for Extended.
The investment is part of a strategy to expand eToro's on-chain business around crypto wallet Zengo, which it acquired in April.
eToro plans to add perpetual futures trading to Zengo, allowing users to trade on-chain derivatives while retaining custody of their own assets.
CoinDesk reported that the perpetual futures market, once viewed as a niche, has become one of the industry's fastest-growing segments. Competition is also intensifying as traditional brokers such as eToro enter the market.
JH Kim
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