• Thu, 21 Nov 2019, 07:16 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Upcoming crypto derivatives exchange Blade scores $4.3M funding from Coinbase, SV Angel

Tue, 13 Aug 2019, 07:47 am UTC

Upcoming cryptocurrency derivatives exchange Blade has secured $4.3 million in seed funding from major investors including cryptocurrency platform Coinbase and investment firm SV Angel, according to a report by Tech Crunch.

Slow Ventures, A.Capital, Justin Kan, and Adam D’Angelo also participated in the funding round.

As per the report, Blade, which is set to launch in three weeks, aims to provide trading for cryptocurrency-based perpetual swap contracts with some notable enhancements.

For instance, perpetual contracts will be drawn up using standard, simple contracts. They will use Tether’s stablecoin USDT for settlement and margins. And lastly, they offer higher leverages of up to 150 times their price for cryptocurrency trading pairs.

The report noted that crypto perpetuals enable traders to bet on a cryptocurrency price with respect to another currency. But unlike fixed maturity futures, perpetuals have no expiration dates. Currently, there are seven different trading pairs for perpetuals listed on Blade.

In the long term, we want to be the CME of crypto… Coinbase and Binance are building this foundation structure for crypto, but I think we are too and in a sense that derivatives are at their core about risk transfer, we want to be building the foundational layer for risk transfer in the crypto markets,” Blade CEO Jeff Byun told the news outlet.

As previously reported, cryptocurrency trading desk and market maker Altonomy has raised $7 million in a seed round led by Polychain Capital, a San Francisco-based crypto-focused investment firm, which will be used to source liquidity for institutional clients including spot and derivatives exchanges.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,632.40 (-5.51%)
  • Ethereum (ETH) $159.98 (-9.41%)
  • XRP (XRP) $0.242200 (-3.87%)
  • Bitcoin Cash (BCH) $224.13 (-8.86%)
  • Litecoin (LTC) $50.73 (-8.63%)
  • Bitcoin (BTC) $7,632.40 (-5.51%)
Nov 21, 2019 (Thursday)
14:01
Binance.US teams up with crypto brokerage Tagomi to offer institutional liquidity
12:29
Chinese authorities move forward with plans to introduce blockchain standardization
11:54
Crypto Technicals: XRP/USD grinds lower capped below 5-DMA, bearish bias intact
10:15
Malta-based Binance acquires Indian crypto exchange WazirX
09:30
Crypto Technicals: ETH/USD drops below cloud, hits new 4-week lows, bias bearish
09:11
TradeStation Group's new crypto brokerage platform launches for approved countries, U.S. states
08:52
Libra will be classified once it goes live; PayPal explains why it backed out of the Association
07:56
Facebook’s Libra marches ahead, logs 34 projects since testnet launch in September
06:47
Crypto exchange Shapeshift introduces commission-free trading
06:36
Crypto Technicals: LTC/USD confirms 'Death Cross' on 4-hour charts, scope for downside resumption
06:04
Bitcoin.com to launch $200M bitcoin cash investment fund in 2020
05:34
CryptoCompare drops Binance out of its Exchange Benchmark; Hacking incident cited behind the decision
04:50
Crypto Technicals: BTC/USD extends consolidation above 55W EMA (7951), bias bearish
04:50
1.4M GateHub user information compromised five months after it suffered a hacking incident
04:46
$400M of Ripple’s XRP token linked to illicit activity: Elliptic
03:01
Federal Reserve chairman doesn’t see benefits of CBDC for U.S. consumers
Nov 20, 2019 (Wednesday)
12:47
MAS launches consultation on allowing crypto derivatives trading on approved exchanges
11:49
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:49
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:22
Chinese firms HDFH, ZVCA and Yillion Bank launch $1B blockchain investment fund
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft