The Final Arc: Week 2 Update
$1.93B traded across 319 markets from October 6 to 20.
- 4,264 active traders
- 366 new users made their first trade on Extended
- RWA markets took 29% of volume
The competition ends on November 2, with a prize pool of 250K USDC and 750K Xpoints.
@SpadezWrites@extendedapp@circle Everyone doing xPoints math is still pricing Extended like a standard perp DEX.
Now add $30T in TradFi volume to the equation.
Circle knows exactly what they’re backing.
Expecting moarrrrrrrrrr.
Tapping into $30T/month TradFi markets.
They’re building the liquidity layer for TradFi brokers and Web3 apps alike.
Builder codes allow third-party apps to monetize perps while keeping full self-custody for users.
Expecting moarrrrrrrrrr
Why Extended is pursuing a regulated path in Europe
TLDR: European retail already trades inside licensed apps, and regulated platforms typically need regulated venues they can integrate. Extended is building one. Builder codes let partners plug Extended into their own product: through the existing venue for self-custody users where available, and through the regulated venue for regulated clients once live.
Europe has close to 10,000 fintech companies, and hundreds of licensed investment firms and credit institutions. Most are exploring new ways to engage their retail user base, and perps are consistently near the top of the list. All of them are potential clients for a regulated exchange.
That market opportunity drove our decision to build a regulated venue in Europe:
1. Retail is the user base we are building the regulated offering for. We have said before that sustainable growth is built on product quality, distribution and community rather than financial incentives. For a trading product, the largest pool of users is retail, and reaching it is a distribution problem.
2. Perp DEXs processed roughly $600 billion in volume over the past 30 days. CFD brokers alone show the size of the addressable market: around $30 trillion a month, with a large share of it in Europe. The largest platforms already earn most of their volume outside FX, in equities, indices, commodities and crypto. On-chain perps is a market we know well and intend to keep serving, but the larger opportunity sits next to it: tens of millions of retail traders already active on regulated platforms, many of whom have no access to perps today.
3. There are three retail markets at the scale that matters: the US, Europe and Asia. The US is the most contested, with many major exchanges and brokers competing for the same users and a long licensing path. Asia has high perps penetration but regulatory approaches vary by jurisdiction. Europe is where we are starting, and we will look at other regulated markets as and when it makes sense.
4. Regulated crypto derivatives in Europe have only recently expanded. Kraken, Coinbase and Bitstamp (owned by Robinhood) launched futures for EU clients over the past 18 months, each using regulatory infrastructure obtained through an acquisition of a licensed investment firm or exchange. That route is open to a handful of firms with the balance sheet for it, but for the far larger group of fintechs and brokers with users and no perps infrastructure, it is not. Our model is to offer builder codes on both venues: a way for partners to plug perps into their own apps, route users’ orders to the venue and earn a share of the fees. Self-custody wallets can integrate with the existing venue where available. Regulated brokers and fintechs will be able to use the regulated venue once it is live.
5. A regulated perps setup takes significant time and resources to build from scratch, and many fintechs lack the product and market expertise to run it well, starting with established market-maker relationships. For smaller players the economics may not work. For larger ones, regulated builder codes cut time to market, especially inside slow-moving large organisations, and deliver a quality product from day one.
6. The demand is clear. We are already in conversations with wallets, CFD brokers and fintechs across Europe, and we repeatedly hear the same request: a regulated venue with a broad range of crypto and RWA markets they can integrate.
Importantly, this does not change our DeFi offering or our commitment to the early community. The existing venue stays for crypto-native users where it is available. The regulated venue adds a new distribution channel and a new user base.
Europe is the first step. Over time, we expect to replicate the same model in other markets, including the US. Our plan is subject to the relevant regulatory authorisations, and we will share specifics as they are confirmed. At a high level, we have an initial route to market, followed by a transition to our own licences.
Disclaimer: This post is for informational purposes only and is not an offer, solicitation or recommendation. It contains forward-looking statements that are subject to change and to regulatory approval. Perpetual derivative contracts do not provide ownership of, or shareholder or other rights in, the underlying assets or companies. Trading involves leverage and significant risk, including possible total loss. Availability is subject to eligibility and jurisdictional restrictions.
Why Extended is pursuing a regulated path in Europe
TLDR: European retail already trades inside licensed apps, and regulated platforms typically need regulated venues they can integrate. Extended is building one. Builder codes let partners plug Extended into their own product: through the existing venue for self-custody users where available, and through the regulated venue for regulated clients once live.
Europe has close to 10,000 fintech companies, and hundreds of licensed investment firms and credit institutions. Most are exploring new ways to engage their retail user base, and perps are consistently near the top of the list. All of them are potential clients for a regulated exchange.
That market opportunity drove our decision to build a regulated venue in Europe:
1. Retail is the user base we are building the regulated offering for. We have said before that sustainable growth is built on product quality, distribution and community rather than financial incentives. For a trading product, the largest pool of users is retail, and reaching it is a distribution problem.
2. Perp DEXs processed roughly $600 billion in volume over the past 30 days. CFD brokers alone show the size of the addressable market: around $30 trillion a month, with a large share of it in Europe. The largest platforms already earn most of their volume outside FX, in equities, indices, commodities and crypto. On-chain perps is a market we know well and intend to keep serving, but the larger opportunity sits next to it: tens of millions of retail traders already active on regulated platforms, many of whom have no access to perps today.
3. There are three retail markets at the scale that matters: the US, Europe and Asia. The US is the most contested, with many major exchanges and brokers competing for the same users and a long licensing path. Asia has high perps penetration but regulatory approaches vary by jurisdiction. Europe is where we are starting, and we will look at other regulated markets as and when it makes sense.
4. Regulated crypto derivatives in Europe have only recently expanded. Kraken, Coinbase and Bitstamp (owned by Robinhood) launched futures for EU clients over the past 18 months, each using regulatory infrastructure obtained through an acquisition of a licensed investment firm or exchange. That route is open to a handful of firms with the balance sheet for it, but for the far larger group of fintechs and brokers with users and no perps infrastructure, it is not. Our model is to offer builder codes on both venues: a way for partners to plug perps into their own apps, route users’ orders to the venue and earn a share of the fees. Self-custody wallets can integrate with the existing venue where available. Regulated brokers and fintechs will be able to use the regulated venue once it is live.
5. A regulated perps setup takes significant time and resources to build from scratch, and many fintechs lack the product and market expertise to run it well, starting with established market-maker relationships. For smaller players the economics may not work. For larger ones, regulated builder codes cut time to market, especially inside slow-moving large organisations, and deliver a quality product from day one.
6. The demand is clear. We are already in conversations with wallets, CFD brokers and fintechs across Europe, and we repeatedly hear the same request: a regulated venue with a broad range of crypto and RWA markets they can integrate.
Importantly, this does not change our DeFi offering or our commitment to the early community. The existing venue stays for crypto-native users where it is available. The regulated venue adds a new distribution channel and a new user base.
Europe is the first step. Over time, we expect to replicate the same model in other markets, including the US. Our plan is subject to the relevant regulatory authorisations, and we will share specifics as they are confirmed. At a high level, we have an initial route to market, followed by a transition to our own licences.
Disclaimer: This post is for informational purposes only and is not an offer, solicitation or recommendation. It contains forward-looking statements that are subject to change and to regulatory approval. Perpetual derivative contracts do not provide ownership of, or shareholder or other rights in, the underlying assets or companies. Trading involves leverage and significant risk, including possible total loss. Availability is subject to eligibility and jurisdictional restrictions.
@rf_extended@circle@eToro@Bitpanda@bitvavocom The Extended team is having dinner with the biggest institutions in the European scene and some people are still fudding.
Comfy on my Xpoints.
Expecting moarrrrrrrrrr