eToro Invests in Developing Self-Custody Trading

eToro Invests in Developing Self-Custody Trading

eToro, known for its innovations in financial technology, led an investment round of $12.5 million for the Extended project. This collaboration aims to improve the accessibility of self-custody.

Expanding Self-Custody Capabilities

The platform Extended, funded by eToro, seeks to radically change the approach to self-custody-based trading. The project offers services where users can independently manage their crypto assets without the need for third-party services.

Connection with Zengo and Onchain Perps

A key aspect of the expansion was integration with Zengo and adding onchain perpetual swap functionality (onchain perp swaps - perpetual swaps directly on the blockchain). This allows traders to perform derivatives operations, avoiding intermediaries and enhancing asset protection.

Comparison with Market Competitors

It is worth noting that eToro is not alone in this direction. Many projects, such as Aave or Uniswap, are also actively developing self-custody and decentralized trading capabilities. However, a unique feature of eToro is their deep integration with existing financial markets and extensive user base.

Impact on Market and Users

The eToro investment in the Extended project may change the game in the world of crypto investments. This event opens up new horizons for traders, providing safer and more autonomous tools for asset management. In the long term, this may increase confidence in cryptocurrencies and accelerate their mass adoption.

Conclusion

This investment by eToro strengthens their reputation as a leader in the crypto industry striving for innovation. The successful integration of self-custody solutions:

• Positively impacts the client base, expanding horizons.
• Increases the safety of storage and trading of crypto assets.

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