Former Binance Executives Launch Crypto Exchange To Enhance User Experience

Key Points:

• Blum, a novel crypto trading platform founded by former Binance executives, attracted over 50,000 signups within its first 48 hours, backed by Binance Labs.
• The exchange merges centralized and decentralized trading features, allowing users to trade directly from third-party crypto wallets across multiple blockchain networks.

A new crypto trading platform, Blum, has stormed onto the scene, garnering over 50,000 signups within just 48 hours of its launch.

Read more: Top 5 Binance Labs Investments To Watch

Former Binance Executives Launch Revolutionary Crypto Trading Platform

Blum, the brainchild of former Binance executives Gleb Kostarev and Vladimir Smerkis, aims to revolutionize trading by merging centralized (CEX) and decentralized (DEX) features.

Backed by Binance Labs, Blum emerged as one of the chosen 13 protocols out of a pool of over 700 global projects. This innovative platform enables users to trade directly from third-party crypto wallets across various blockchain networks.

Blum boasts an off-chain order book with on-chain settlement, promising seamless trading experiences. It automatically lists tokens with sufficient liquidity and supports mobile trading via a Telegram mini app, tapping into the rising trend of crypto trading on private messaging platforms.

Blum Targets Asia Amid Regulatory Challenges, Excludes U.S. Market

Kostarev, Blum’s CEO, previously served as Binance’s regional head for Eastern Europe, CIS, Turkey, Australia, and New Zealand. Smerkis, now the platform’s chief marketing officer, was the general manager for the CIS region at Binance.

The former Binance executives departure coincided with a series of senior leadership exits as the exchange faced challenges. Blum aims to target customers across Asia and plans to seek approval as a virtual asset service provider in Georgia. Despite being based in Dubai, the global headquarters’ location is undecided.