Blum, a new crypto trading app created by a group of Binance alumni, has quickly gained traction by attracting over 50,000 signups within its first 48 hours of launch. The platform aims to provide a unique trading experience by combining features of both centralized and decentralized exchanges.

Binance Alumni Launch Hybrid Crypto Exchange

The team behind Blum, which includes former Binance executives, introduced this hybrid crypto exchange to offer a seamless trading experience for both novice and experienced traders in the digital asset space. The platform is supported by Binance Labs and was selected as one of the top projects out of hundreds of contenders worldwide.

Key Features of Blum

  • Novel off-chain order book with on-chain settlement
  • Automatic token listing with sufficient liquidity
  • Support for trading on mobile devices via a Telegram mini app
  • Option to switch between centralized and self-custody trading

Meet the Team Behind Blum

Gleb Kostarev, former Binance vice president, leads Blum as the co-founder and CEO, alongside Vladimir Smerkis, ex-general manager for Binance Russia and CIS, who serves as the chief marketing officer. The team also includes experienced professionals like Vladimir Maslyakov, CTO of Thekey.space.

Global Expansion and Regulatory Compliance

Blum is strategically planning its global expansion, focusing on crypto-friendly jurisdictions like Dubai and emerging markets in Asia. While the platform will not cater to U.S. customers due to regulatory complexities, it aims to comply with international crypto regulations.

Future Plans for Blum

Blum is exploring the possibility of launching a native exchange token and aims to secure a Virtual Asset Service Provider (VASP) registration in Georgia by 2024. The platform also plans to introduce a point system for user engagement, potentially converting points into tokens in the future.

As the crypto industry evolves, startups like Blum are innovating with unique features and strategies to attract users and compete with established players in the market.

For more updates and news in the crypto space, visit Global Crypto News.

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