eToro Backs Onchain Derivatives Platform Extended in Strategic Move Toward DeFi Expansion

Perpetual futures have evolved from a niche cryptocurrency product to one of the fastest-growing segments in the digital asset market, with platforms increasingly offering contracts tied to equities, commodities, and other real-world assets, effectively blurring the boundaries between crypto-native and traditional financial markets.

Extended, a onchain derivatives platform led by former Revolut crypto head Ruslan Fakhrutdinov, has processed over $245 billion in trading volume as of June and supports more than 100 perpetual markets. The company announced plans to expand into spot trading, tokenized real-world assets, and multi-asset collateral arrangements.

“The first phase was building for DeFi natives,” Fakhrutdinov said. “The next is expanding the infrastructure and partnerships needed to support the next stage of onchain derivatives.”

This investment reflects a broader industry trend, with major players like Coinbase, Robinhood, and prediction market operator Kalshi all expanding into perpetual futures as trading migration onto blockchain environments makes the distinctions between brokerages, crypto exchanges, and prediction markets increasingly indistinct.

“Capital markets are increasingly converging with digital asset infrastructure,” noted Ouriel Ohayon, managing director at Zengo. “eToro’s investment in Extended reflects a mutual conviction that the future of trading will be digital, accessible and can operate 24/7, beyond the traditional trading week.”

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