Cryptocurrency consumer app Blockfolio was acquired by the popular exchange FTX and it will launch a retail trading experience.
The cryptocurrency derivatives exchange FTX has purchased one of the most utilized cryptocurrency applications – Blockfolio for $150 million. As a result, Blockfolio will add a retail trading experience for its over 6 million users.
FTX Buys Blockfolio
After recently launching a DEX focused on DeFi trading called Serum, FTX continues expanding, acquiring the popular app for $150 million.
The consumer application, which has been downloaded over 6 million times on iOS and Android, previously raised $17 million from Founders Fund, Pantera Capital, Dan Matuszewski, DCM Ventures, Hashkey Digital Asset Group, and others.
Blockfolio allows users to add a portfolio of cryptocurrencies and track their performance. Additionally, users can have a so-called automatic portfolio by connecting the app with different exchanges.
Following the FTX acquisition, Blockfolio plans to launch a retail trading experience powered by the cryptocurrency exchange. Although neither company disclosed further details about it at the time, Blockfolio allows pre-registrations as the project will “launch soon.”