This week, Blum, the telegram-based cryptocurrency trading platform, announced on 12 Feb the completion of its seed funding round. It has received $5 million in pre-seed and seed funding, receiving major investment from Gumi Cryptos, other funders included YZi Labs, Spartan Capital, OKX Ventures, Wintermute, No Limit Holdings, and Bitscale.
Bt is set to use the $5M funding to fuel his 2025 vision of providing its 90M+ users a seamless and innovative trading ecosystem.
Founded by former Vice-president at Binance, Gleb Kostarev, Blum since its launch in March last year has grown in both popularity and user base exponentially. Its telegram-based trading bot has been designed specifically with Gen Z and millenials in mind, it has been working towards making crypto trading simple for new users.
It is set to develop multi-chain trading bots, AI-powered Memepad, Perpetual Futures trading
The AI-powered Memepad platform that it aims to develop further is what currently allows its users to launch their own Memecoins and then trade with ease.
Currently available across over 30 Blockchain networks, including Ethereum, Solana, Binance Smart Chain, and TON, its hybrid exchange model allows users to trade tokens seamlessly without the need to switch between multiple platforms.
Without the need of depositing in a central exchange, it allows users to deposit funds and trade directly from their wallets.
Currently, as its founders highlighted, Blum seeks to expand to wider and diverse markets including APAC.
Its vision of expanding its trading services beyond TON can accelerate its development into a full-fledged decentralised exchange.
This will allow users to swap not only tokens available on TON but across-chains.
In November last year, Blum recieved asn investment from The Open Platform (TOP), a venture builder in Telegram’s TON ecosystem. As the TON currently lacks a major DEX, Blum using its Telegram-based trading and Trade-to-Earn feature can complete the vacuum in TON’s need for a major DEX.
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