đ¸ Binance Labs Invests in Blum
Binance Labs, the venture capital and incubation arm of Binance, has invested in Blum.
đŹ Gleb Kostarev, CEO and co-founder of Blum: âWe are grateful to Binance Labs for their support, which will accelerate Blumâs trading infrastructure and development and help us to expand into new markets. This investment is a key milestone in our mission to enhance our platform within the Telegram ecosystem, offering users a seamless and intuitive experience across traditional and decentralized finance.â
The project was launched on April 19th, 2024, and was initially featured in the prestigious Binance MVB Programme. Within 24 hours of this announcement, over 100,000 users had signed up for Blum, marking a strong start to the platformâs journey.
Today Blum operates as a gamified Telegram Mini App, tapping into Telegramâs vast ecosystem and its growing user base of 950 million monthly active users. Although the full version of the exchange is set to launch by the end of the year, users can already explore and use some of the platformâs key features within the Telegram app.
đŹ Vladimir Smerkis, CMO and co-founder:âBlum is the first âtap-to-earnâ Telegram mini-app to complete Binance Labsâ MVB incubation program. This demonstrates the rising interest in this area from the largest crypto exchange. Unlike other popular âtap-to-earnâ projects, Blum isnât a game but an upcoming DEX exchange that leverages game mechanics to expand our audience."
Since its launch, Blum has successfully grown its user base through innovative gaming strategies, including a tap-to-earn model. The app now ranks as the 3d most popular crypto platform globally, boasting over 60 million users, with over 18 million daily users, and more than 20 million on-chain users (those, who have connected their wallets to the product) and the third-biggest Telegram channel with over 22 million subscribers.
