Blade Walks Out With $4.3 Million from a Fund Raising Event

A fundraising event put together by Blade a yet to be launched cryptocurrency derivatives exchange platform has ended well with Blade walking out with $4.3 MILLION. Among the firms which participated in the fundraiser include Coinbase, investment firm SB Angel, Adam D’Angelo, Justin Kan, Slow Ventures, and A.Capital.

Although the platform will go live in the next three weeks, Blade is striving to be the next Chicago Mercantile Exchange (CME) by uniquely approaching the crypto sector.

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Once launched, Blade aims to provide investors with a conducive platform that allows them to bet on the future values of cryptocurrencies by leveraging perpetual swap contracts.

However, for the latter, Blade is putting in place three new improvements to ensure traders have the best. First traders would love to know they can leverage their trading orders up to 150 times on different trading pairs.

Secondly, Tether’s USDT stablecoin will be available for settling the perpetual trade swaps. Lastly, Blade will leverage simplified vanilla contracts to ensure the perpetual contracts are standard and straightforward.

Through the platform, Blade customers can place their bets on the value of cryptocurrencies in relation to other coins, but the instruments aren’t pegged to expiry dates. Besides the latter, at Blade platform traders have the liberty of betting on Binance Coin, Ripple, Zcash, DogeCoin and Monero.

While the above showcases a platform full of opportunities for traders, due to regulatory challenges US traders won’t be able to trade on Blade platform. Although it’s an exchange on its own, Blade is under a subsidiary based in the US. Moreover, the latter has forced Blade to focus on the East Asian market rather than the US market.

“At the moment the crypto market is a bifurcated one its either you serve the US market through crypto exchanges such as Bitrex, Gemini or Coinbase or go overseas. While the latter group will enable you to work with US traders, the crypto exchanges are highly regulated. The latter translates to some market restrictions; hence, the market is limited.  However, going overseas, regulations are less, but the market comes with huge potentials. “Jeff Byun, CEO of Blade.

While Blade is leaning towards the Asian market, its investors are reputable firms with operations in the US.