Trading platform eToro said Thursday it led a $12.5 million strategic round in Extended, an onchain exchange for perpetual futures.

Etoro said the investment is tied to a partnership with Zengo, the self-custody wallet eToro acquired earlier this year. At the time of the acquisition, Bloomberg reported Zengo was valued at around $70 million.

"The partnership will focus on expanding access to global financial markets through next-generation on-chain infrastructure," eToro said in a post on X. "Together, we will explore opportunities to bridge traditional financial assets and decentralized trading environments."

Jump Crypto also participated in the round, according to Thursday's post.

Extended, founded by former Revolut employees, opened trading in late 2024, according to a statement at the time. The platform is built on StarkWare's onchain scaling engine, StarkEx.

Zengo, which was founded in 2018, built its wallet around multi-party computation cryptography, removing the need for seed phrases while offering token swaps, staking, and access to decentralized applications. Etoro has been integrating the non-custodial wallet's technology into its brokerage platform, broadening its digital asset stack and connecting it with onchain infrastructure.

In May, eToro reported that its profit from crypto was $13 million in Q1 2026, or about 5% of its total net trading profit of $258 million, down significantly from the $46 million generated during the same period in 2025.