Coinbase-Backed Blade to Offer Zero-Fee Crypto Trading


Crypto derivatives platform Blade announced on Wednesday that it will offer zero-fee trading for its customers as of February.

Blade offers perpetual crypto contracts with a maximum leverage of 150:1. Though similar to other futures contracts, these contracts do not have an expiry date, meaning the traders can hold them as much as they want without any risk of liquidation.

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The exchange is also considering to scrap the $10 monthly fees it levies on the traders for using its platform.

New platform with innovative ideas

Launched last September, Blade is primarily targeting the lucrative east Asian markets with its upcoming products. As seen on its website, the platform offers six trading pairs, two against fiats – US dollar and Korean won – while the rest four are listed against USDT.

Except for the two fiat-based products, the rest are listed as vanilla contracts, meaning they provide the trader the right, but a mandate, to buy the contract.

Though headquartered in San Francisco, the trading services at the platform are not available to traders based in the United States due to regulatory restrictions.

With bullish signals in the spot market, the demand for crypto derivatives is skyrocketing and major platforms. Though major platforms like BitMEX are dominating in the derivatives space, small players like Blade are still entering the market targeting niche traders.

The exchange platform is likely to attract the attention of high-frequency traders who enter and exit the market in seconds, booking fractions in profit in a single trade.

Prior to its launch, the derivatives exchange raised $4.3 million in a seed funding round from Silicon Valley giants like Coinbase, SV Angel, A.Capital, Slow Ventures, Justin Kan, and Adam D’Angelo.

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