Former Binance top managers will launch Blum cryptocurrency exchange

Former top managers of the Binance cryptocurrency exchange will launch a platform for trading digital assets Blum. The project is aimed at users from Asia, and its creators also plan to obtain a license to operate in Georgia, Bloomberg writes.

Blum is a hybrid crypto exchange that will work through a mini-application in the Telegram messenger. It will allow customers to buy centralized (CEX) and decentralized (DEX) tokens, as well as provide access to derivatives.

The creators of the project note that Blum supports asset trading directly from MetaMask or TrustWallet cryptocurrency wallets. In this case, the platform will automatically list tokens, first conducting a liquidity check and collecting data from exchanges and protocols.

The founders of the project are the former head of Binance in Eastern Europe, Gleb Kostarev, and the former head of this company in the CIS, Vladimir Smerkis. According to them, the Blum team also includes other specialists who previously worked at the mentioned cryptocurrency exchange.

In addition, the project of Kostarev and Smerkis was supported by Binance Labs. Blum was one of the participants in the seventh season of the Most Valuable Builder (MVB) acceleration program.

One of the founders of the new exchange noted that the management is currently looking for investors to raise additional funds. Kostarev and Smerkis are now in Dubai, but have not yet decided whether they will open Blum’s headquarters in the UAE.

The first stage of the launch of the hybrid exchange is scheduled for the end of March 2024.