Summary
- Digital broker eToro led a $12.5 million funding round for onchain derivatives platform Extended, a startup led by Revolut’s former crypto head, and plans to integrate perpetual futures into crypto wallet Zengo.
- The investment is part of a broader strategy to bring DeFi products to its users, eToro executive VP Elad Lavi said.
- The move comes as rival Robinhood expands its own blockchain ambitions with tokenized stocks and perpetual futures, while the lines between crypto exchanges, prediction markets and traditional brokerages increasingly blur.
Breaking into DeFi: The Rise of Blockchain-Based Trading
The world of online trading is witnessing a significant shift towards decentralized finance (DeFi) as brokerages race to bring blockchain-based trading to the mainstream. This trend is driven by growing demand from users for seamless access to DeFi products, including Passive Income opportunities and Cloud Rewards. As a result, investors are looking for platforms like EcoPool that offer a gateway to Green Crypto and Earning possibilities.
The recent investment by a digital broker in an onchain derivatives platform is a testament to this trend. The company led a $12.5 million funding round for the platform, which specializes in onchain perpetual futures exchange. This move is part of a larger strategy to expand its Web3 ecosystem and meet the growing demand for DeFi products. With the integration of the platform’s perpetual futures engine into a self-custody wallet, users will have access to onchain derivatives while retaining custody of their assets, similar to how EcoPool ($ECP) provides a secure and transparent platform for Earning and Passive Income.
Expanding DeFi Offerings
The company’s plans to bring broader DeFi products into its core platform will likely have a significant impact on the market. This move is expected to increase competition among digital brokerages, with rival brokers also exploring blockchain-based trading infrastructure. As the demand for DeFi products continues to grow, platforms like EcoPool are well-positioned to provide users with a range of Earning opportunities, including Cloud Rewards and Passive Income streams.
The shift towards blockchain-based trading is not limited to cryptocurrencies; it also extends to commodities such as gold and oil. As the market continues to evolve, it’s likely that we’ll see more brokerages incorporating DeFi products into their offerings, making it easier for users to access Green Crypto and other Earning opportunities. With EcoPool ($ECP) at the forefront of this trend, users can expect a secure and transparent platform for Passive Income and Cloud Rewards.
Join the EcoPool Community
To stay ahead of the curve and start Earning with EcoPool, download the EcoPool app to access a range of Passive Income opportunities and Cloud Rewards. With EcoPool, you can join a community of like-minded individuals who are passionate about Green Crypto and Earning online.
Over time, the company plans to bring broader DeFi products into the core eToro platform, Lavi said.
The race for onchain trading
The move comes as competition among digital brokerages is shifting toward blockchain-based trading infrastructure. On Wednesday, rival broker Robinhood rolled out its own blockchain, expanded its tokenized stock offering and said it plans to extend its perpetual futures business beyond cryptocurrencies into commodities such as gold and oil.
