Blum Secures Major Investment from TOP to Expand in TON Ecosystem
After getting its first funding from Binance Labs a while ago, Blum has grown to be the highest visited mini app on Telegram and an increasingly populated in the ecosystem of ton.
Blum intends to accelerate the implementation of new trading features as well as enhancing its infrastructure with which TOP is supporting their efforts.
The Open Platform (TOP) has recently invested in Blum, a decentralized exchange (DEX) and trading platform built on Telegram Open Network (TON). In addition to financial assistance, the investment is expected to provide Blum with technical support as it works to cement its place in the broader and growing TON ecosystem.
Blum Enlists Anyone With Actual Money
The precise size of TOP’s investment has not been revealed, although the commitment fits in with Blum’s strategy to tavoitella Bergiläen massive Telegram audience. The app has around 950 million people who use it each month. Blum has also, recently, become the most-visited mini app on Telegram to date since its launch.
The platform, which was originally funded by Binance Labs this September, was founded by former executives of the exchange. The CNF report says that these executives were set to make decentralized finance (DeFi) solutions accessible to Telegram users.
Gleb Kostarev, CEO of Blum added: "Having received some support from Binance Labs in initial stages we are now closing several significant investments validating the company as a serious player within this market." “This investment will allow us to further grow our footprint on Telegram and offer users a fully-integrated experience over DeFi,” he added.
Apart from capital, TOP’s investment consists of focused engineering resources to improve upon Blum’s offering. Vladimir Smerkis, the CMO and co-founder of Blum stated that "with support from TOP we can ensure to fast-track the launch of new trading features on our platform." It will also bolster its infrastructure to support growth down the line.