Key facts
- eToro invested $12.5 million in Extended.
- Extended is an onchain perpetual futures exchange.
- eToro plans to integrate DeFi products into its offerings.
- eToro plans to integrate DeFi products into its Zengo wallet.
- dYdX has rebranded as Arcus.
- Arcus will launch on Robinhood Chain.
- Robinhood Chain is an Arbitrum-based layer 2 blockchain.
- Arcus aims to offer perpetuals trading.
- Arcus aims to offer fee-free trading of tokenized stocks.
- Arcus seeks to reduce market access barriers.
Digital brokerage eToro has invested $12.5 million in Extended, an onchain perpetual futures exchange. This investment is a key component of eToro's broader strategy to incorporate decentralized finance (DeFi) products, such as perpetual futures, into its existing services and its Zengo wallet.
In a separate but related development within the onchain derivatives space, the decentralized exchange protocol dYdX has undergone a rebranding to Arcus. Arcus is set to launch on Robinhood Chain, a new layer 2 blockchain developed by Robinhood based on Arbitrum technology. The Arcus platform intends to provide users with access to perpetual futures trading and the ability to trade tokenized stocks without incurring fees. This initiative is designed to reduce existing barriers to market access for traders.
These developments highlight a growing trend among financial platforms to integrate DeFi capabilities and explore new blockchain infrastructures to offer innovative trading products and enhance user accessibility in the digital asset markets.