Zach Anderson
Feb 13, 2025 07:03
OKX Ventures invests in Blum, an innovative trading app on Telegram, enhancing the TON ecosystem. Blum achieves significant milestones with 90 million users and a robust presence on DEXs.
OKX Ventures, the investment division of the global crypto exchange OKX, has announced its strategic investment in Blum, a pioneering trading application designed for Telegram users. This move underscores OKX Ventures’ commitment to advancing the TON ecosystem, according to OKX Ventures.
Blum’s Rapid Growth and Achievements
Since its inception in April 2024, Blum has swiftly made its mark in the crypto world. The app connects decentralized (DEX) and centralized (CEX) exchanges, serving a vast user base of 90 million. Blum’s Telegram channel has become the second-largest globally, with 33.4 million members. The platform also boasts the highest onchain user activity, with 2.2 million unique wallets, as it won the sixth Season of The Open League.
Blum’s Memepad, a key feature on the TON blockchain, leads in daily transaction volume, ranking second globally. The Memepad has facilitated a $200 million trading volume, with 200,000 tokens created and 380 tokens listed on DEXs. Blum Labs, the platform’s accelerator, has successfully advanced 20 blockchain projects, including noteworthy names like PAWS, Gameness, and Nutscoin.
Investment to Strengthen TON Ecosystem
Jeff Ren, a Partner at OKX Ventures, expressed enthusiasm about the investment, highlighting the potential for further collaboration with Blum. “We are delighted to invest in Blum, a decentralized exchange for tokens from both centralized and decentralized platforms,” Ren commented. He also mentioned plans to partner through OKX Connect to attract more users, reinforcing their dedication to the TON ecosystem’s development.
Funding Round and Future Plans
The investment in Blum was part of a funding round led by gumi Cryptos Capital, with contributions from Top.co, YZi Labs, Spartan, No Limit Holdings, Bitscale Capital, Wintermute, and Nomad Capital. Concurrently, Blum unveiled an updated roadmap outlining its product strategy for 2025, signaling continued innovation and growth.
OKX Ventures, with its $100 million capital commitment, focuses on discovering and supporting groundbreaking blockchain projects worldwide. Their investment in Blum is a testament to their strategy of fostering innovation and promoting the healthy evolution of the blockchain industry.
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