Blofin announced its futures trading service will launch on Jan. 12th, 2023, in an entirely new exchange platform, packed with pragmatic functions and protocols for practitioners, professionals and executives. The exchange embraces industry-leading fund security proofs in both blockchain technology and in third-party custody, endowing crypto enthusiasts’ trust in centralized exchanges.
The original version of Blofin platform supports USDT-Margined Perpetual contract trading for 45 trading pairs. The trading system also functions with all the needed tools for futures trading, including market visuals, limit orders, functions of reduce only, TP/SL, IOC, FOK, and more.
Believing that trading is the key to merging cryptocurrency adoption, Blofin’s vision is to become a world-class financial service platform that is trusted by everyone. Trust, therefore, will be the creed of how Blofin stands out in the balking market. “In 2022, top institutions were wiped out overnight, some projects in the industry lost their credibility, and the market took every bush for a bugbear; all of these came from individuals and organizations who lost their vigilance in the bullish market and risked disproportionally. Blofin is destined to reform the situation”, said Matt Hu, Founder and CEO of Blofin, Forbes 30 Under 30 Asia 2017, to the press.
Blofin sticks to the creed that your coins are always yours and offers a full range of protection for users’ assets. First, the platform has partnered with Fireblocks, offering liability insurance coverage for different types of accidents that may endanger users’ benefits. Second, it draws the decentralized Merkle Tree verification to prove users’ funds in the platform’s reserve. And third, Blofin uses the wallet as a service (Waas) to keep users’ assets in third-party custody. By adopting Wass, Blofin is able to make transactions efficiently while being prohibited from appropriating users’ assets into any kind of investment. Last but not least, Blofin will also adopt the KYT solution from AnChain, the best AI-powered blockchain intelligence platform, to assist in monitoring the platform’s security, risk, and compliance.
Blofin is recognized by top global investment institutions, including SIG, Matrix Partners, and KuCoin, Fenbushi Capital, Draper Dragon, and more. Earlier in 2022, Blofin raised US$50 million in its series B round of financing. At present, Blofin’s current global assets under management have reached US$300 million. As CEO Matt said, “We never expanded our business blindly”, Blofin is now fully prepared to embrace its new business of providing futures trading services to global users.
With a virtuous reputation of providing outstanding services in quantitative trading and FOF since 2019, Blofin anchored its new exchange business in margin-based futures on crypto assets. To fully adhere to regulations worldwide, Blofin has received a U.S.MAS license and has become a member of Korean Verify VASP. Furthermore, Blofin has applied for licenses in Australia, HK, Singapore, Canada, Switzerland, and more.
Transforming from a world-class crypto-fiat financial services institution, Blofin team consists of serial entrepreneurs, executives from the traditional finance industry, professional traders, globalized compliance and risk control personnels, and more. Blofin will launch its futures trading exchange on Jan. 12th, 2023. The core trading functions will be at full capacity by then, and associated promotional functions will be released in succession.