Cryptocurrency trading platform Blade has reportedly closed its seed funding round on $4.3m.
The investment was supplied by Coinbase, SV Angel, A.Capital, Slow Ventures, and angel investors Justin Kan, and Adam D’Angelo, according to a report from Tech Crunch.
Blade founders Jeff Byun and Henry Lee previously founded the mobile ordering and payments company OrderAhead. The company was eventually acquired by payments services provider Square in 2017, for an undisclosed amount.
Their latest venture is aimed at tackling the perpetual swap contracts, the article states. Perpetuals are a crypto-native trading instrument and Byun believes it is the quickest growing segment of crypto trading.
A perpetual gives trades the ability to bet on future cryptocurrency values based on others, and do not have an expiration date. For example, a user could gamble on the price of Bitcoin relative to the dollar.
Blade supports the trading of bitcoin and altcoins including Monero, DogeCoin, Zcash, Ripple and Binance Coin.
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