Binance Labs Invests in Telegram-Based DEX
12.09.2024 22:00 1 min. read Alexander Stefanov
Binance Labs, the investment arm of the crypto exchange Binance, has recently invested in Blum, a decentralized exchange (DEX) integrated into Telegram.
Details of the investment, including the amount and valuation, have not been disclosed.
Blum offers a hybrid trading experience combining elements of both centralized and decentralized exchanges. As a mini-app within Telegram, it aims to leverage the platform’s extensive user base of 950 million to facilitate seamless trading directly through the messaging app.
Blum, which launched on April 19, 2024, quickly gained traction, attracting over 100,000 users within its first day. The platform has since grown to include more than 60 million users and maintains a strong presence with 22 million subscribers on its Telegram channel.
Unlike traditional “tap-to-earn” models, Blum uses gamified features to engage users while providing trading services.
Investors are showing increasing interest in Telegram-based mini-apps due to their large and active user base, which lowers user acquisition costs. The seamless integration of gaming and crypto transactions is seen as a significant advantage. Additionally, the TON Accelerator has introduced TON to support startups on the TON blockchain, further promoting innovation in this space.
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