Blum secures new investment from TOP to expand in TON ecosystem

Blum, a decentralised exchange (DEX) and trading app on Telegram’s TON ecosystem, announced a new investment from The Open Platform (TOP), providing both funding and technical support.

Though the exact investment amount is undisclosed, the collaboration aims to help Blum expand within Telegram’s massive user base of nearly 950 million monthly active users.

Founded by former Binance executives and backed by Binance Labs since September, Blum seeks to leverage TOP’s investment to enhance its platform and gain traction among Telegram users.

“This investment will enable us to further expand our presence on Telegram… and provide users with a seamless experience across DeFi,” CEO Gleb Kostarev stated.

With this partnership, Blum positions itself as a serious competitor within the TON ecosystem.

TOP recently launched a $10 million growth initiative for TON ecosystem projects, supporting Blum as one of its key participants.

In a press release, TOP expressed its confidence in Blum’s growth potential and user-friendly design, aiming to help the app continue expanding in popularity.

Currently, Blum has around 85 million users and ranks as one of the most-visited mini-apps on Telegram.

Along with financial backing, TOP’s support includes providing resources for Blum to optimise its interface and scale crypto trading services across blockchains.

Vladimir Smerkis, Blum’s CMO and co-founder, explained that the partnership will “fast-track the launch of new trading features” and enhance the app’s overall infrastructure, though specifics on these technical enhancements were limited.