Blum is a hybrid cryptocurrency expected to launch in Oct 2024 by former Binance executives Gleb Kostarev and Vladimir Smerkis. It blends the benefits of both centralized (CEX) and decentralized (DEX) exchanges. Blum has garnered significant attention due to its integration with Telegram, allowing users to trade directly via a mini-app, which capitalizes on the growing trend of mobile crypto trading. Backed by Binance Labs, the platform was chosen for its seventh cohort from over 700 global submissions.
Blum's unique features include an off-chain order book with on-chain settlement, which ensures fast trading while providing the security of decentralized platforms. It has already attracted millions of users within months of its Pre-launch. Its "tap-to-earn" model and plans for future expansion, such as introducing token minting and partnerships with major players like Binance OKX, Bybit, and Bitget, highlight its innovative approach to crypto trading.
BLUM is focusing on expanding in Asia and is pursuing a Virtual Asset Service Provider (VASP) license in Georgia, while avoiding the U.S. market due to regulatory challenges. Blum’s roadmap includes a potential native token launch and further development of features to bridge the gap between traditional and decentralized finance.
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