Crypto Derivatives Exchange Blade Raises $4.3M From Coinbase and Others
Max Boddy's original article for cointelegraph.com reduced by 76%
A soon-to-launch cryptocurrency derivatives exchange has raised $4.3 million from major investors such as the cryptocurrency platform Coinbase and the investment firm SV Angel. The report notes that in particular, Blade is aiming to provide trading for cryptocurrency-based perpetual swap contracts with three new improvements. As explained in the report, crypto perpetuals allow traders to bet on the price of a cryptocurrency with respect to another currency.
As indicated in the report, Blade currently provides a listing of their cryptocurrency pairs for perpetuals. At press time, the upcoming exchange lists seven different trading pairs. "In the long term, we want to be the CME of crypto Coinbase and Binance are building this foundational 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." As previously reported by Cointelegraph, the major cryptocurrency exchange Bitfinex recently hinted that they might be adding 100x leverage for derivatives trading.
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CN [too long; didn’t read]
Summarised crypto news.