The capital injection aligns Extended with Zengo, the self-custody wallet eToro acquired earlier this year. By leveraging Zengo’s multi-party computation technology, which eliminates traditional seed phrases, the firms intend to build a bridge between traditional financial assets and decentralized trading venues. This infrastructure play follows a period of contraction for eToro’s crypto-related profits, which fell to $13 million in the first quarter of 2026 from $46 million during the same period last year.
Founded by former Revolut employees, Extended operates on StarkWare’s StarkEx engine, aiming to replicate the speed of centralized exchanges while maintaining the user control inherent to decentralized systems. The platform’s growth reflects a broader industry shift as perpetual futures decentralized exchanges continue to capture market share, with open interest climbing from 3.6% in 2025 to 13.5% in 2026. For eToro, the move represents a long-term commitment to digital asset architecture, positioning the company to compete for users seeking direct asset control and broader exposure to global markets.
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