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Blade logo.jpg
Founded 2019
Headquarters San Francisco, California
Key People Jeff Byun, CEO and Co-Founder; Henry Lee, Co-Founder
Twitter @TradeOnBlade
Facebook Page
Website Blade Exchange Homepage

Blade is a cryptocurrency-to-cryptocurrency trading platform that trades perpetual derivatives contracts. The contracts are not available to U.S. residents. The platform is scheduled to launch in early September 2019.[1]

Products and Services[edit]

Blade offers a number of trading contracts for cryptocurrency, including perpetual derivatives and cryptocurrency margin trading, similar to BitMEX.

Perpetual contracts[edit]

Blade primarily offers two types of perpetual contracts: "vanilla" perpetuals and "inverse" perpetuals. Vanilla perpetuals are contracts in which profit and loss (P&L) is denominated in the quote currency, or the second currency named in a trading pair (in the case of their XRP/USDT contracts, for example, the quote currency is USDT). Inverse perpetuals are more complex contracts in which the P&L is denominated in the underlying currency (in the previous example of XRP/USDT, the underlying currency would be XRP).[2]

Blade offers contracts on bitcoin, Ripple, Binance coin, Monero, Zcash, and Dogecoin paired against Tether. The exchange does not accept any fiat currency, but does offer a BTC/USD contract that can liquidate bitcoin into U.S. dollars.

Blade offers perpetual derivatives contracts, which are called that because they have no termination date.[3]

Margin trading[edit]

Blade also offers margin trading with up to 150-times leverage.[4]


Blade was founded by Jeff Byun and Henry Lee, who previously started a delivery startup that was acquired by Square in 2017. The company raised $4.3 million in seed investments from Coinbase, SV Angel, A.Capital, Slow Ventures, Justin Kan and Adam D’Angelo, the former chief technology officer of Facebook, among others.[5]