RATE Group | Crypto Derivatives Exchange Blade Raises $4.3M From Coinbase and Others
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Crypto Derivatives Exchange Blade Raises $4.3M From Coinbase and Others

18 Aug Crypto Derivatives Exchange Blade Raises $4.3M From Coinbase and Others

Posted at 04:07h in Cryptocurrency News by

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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 exchange Blade is scheduled to launch in three weeks’ time.

Blade’s funding and plans come by way of a TechCrunch report on Aug. 12. The report notes that in particular, Blade is aiming to provide trading for cryptocurrency-based perpetual swap contracts with three new improvements.

First, the perpetuals contracts will be drawn up using standard, simple contracts. Second, the perpetuals will use Tether’s stablecoin USDT for settlement and margins. Third, trades can be leveraged up to 150 times their price for cryptocurrency trading pairs.

As explained in the report, crypto perpetuals allow traders to bet on the price of a cryptocurrency with respect to another currency. However, unlike futures, perpetuals do not have an expiration date. As indicated in the report, Blade currently provides a listing…

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