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eToro Invests in Onchain Derivatives Exchange Extended and Partners with Zengo
eToro has become a strategic investor in Extended, an onchain perpetual futures exchange, and announced a partnership with Zengo, the self-custody wallet acquired earlier this year. The investment size was not disclosed.
AS1 NewsSource: thedefiant.io
eToro has taken a strategic stake in Extended, a platform that offers onchain perpetual futures trading. This move signifies eToro's interest in expanding its presence in decentralized derivatives markets. The investment also marks the beginning of a partnership between Extended and Zengo, a self-custody wallet provider that eToro acquired earlier this year. This collaboration could enhance the integration of secure wallet solutions with decentralized trading platforms. Neither company disclosed the amount invested, but the partnership indicates a focus on strengthening decentralized finance (DeFi) infrastructure and user security. Such developments are part of broader trends where traditional trading platforms are increasingly engaging with DeFi protocols to diversify their offerings.
The investment and partnership are likely to support the growth of decentralized derivatives trading and enhance security features within the ecosystem.