eToro Leads $12.5M Funding Round for Extended’s Onchain Perpetuals Platform
COIN•eToro spearheaded a $12.5 million funding round for Extended’s onchain perpetuals platform with participation from Circle Ventures and Robinhood Markets. The investment will accelerate development of leveraged perpetual swap products on Ethereum and Bitcoin networks and expand decentralized derivatives access.
1. Funding Round Overview
Retail broker eToro led a $12.5 million funding round for Extended, an onchain perpetuals derivatives platform, with backing from Circle Ventures and Robinhood Markets. This infusion marks one of the largest seed-stage investments in decentralized derivatives infrastructure this year.
2. Platform Capabilities
Extended plans to offer fully onchain perpetual swap products, enabling traders to leverage positions on Ethereum and Bitcoin via automated liquidity pools. The platform’s architecture will use smart contracts to manage margin, funding rates and collateral in a trustless environment.
3. Implications for Coinbase
The emergence of Extended’s decentralized perps platform intensifies competition in the crypto derivatives space where Coinbase has expanded offerings through its own perpetual swap beta. Coinbase may need to enhance onchain capabilities and fee structures to maintain market share as institutional and retail traders seek trust-minimized products.
