Peter Thiel-backed digital asset trading platform, Bullish Exchange, is now available to eligible individual users and institutions in more than 40 jurisdictions within Asia-Pacific, Europe, Africa and Latin America.
The Bullish Exchange
Bullish is a regulated exchange, integrating strong cryptographic safeguards and security.
The Bullish exchange is built on a private EOSIO-based blockchain in order to integrate the strategic advantages of blockchain’s inherent capabilities into the platform design, and achieve a new degree of security, transparency, and resiliency.
Combined with WebAuthn standards, which eliminate many security vulnerabilities inherent with passwords by using public key cryptography, users will experience a password-free authentication environment, creating a more secure onboarding process and ongoing account access.
Brendan Blumer, Chairman of Bullish, said:
“Bullish was born from working backwards from our own desire to more effectively manage digital assets, and today we’re ready and excited to share these revolutionary tools with the public.”
Supported by the group’s treasury, Bullish’s new breed of exchange combines deep liquidity, automated market making and industry-leading security to increase the accessibility of digital assets for traders.
Bullish cryptocurrency exchange is operated by Bullish (GI) Limited and is regulated by the Gibraltar Financial Services Commission (GFSC).
The trading platform leverages innovations in decentralized finance (DeFi) with regulatory compliance frameworks, giving institutional and retail traders access to deep liquidity and low-cost transactions.
Bullish Exchange Started With Institutional Customers
The crypto exchange went live late November with select institutional customers, following the receipt of a distributed ledger technology (DLT) license from the Gibraltar Financial Services Commission (GFSC).
Following the launch last month, Bullish has hydrated its proprietary liquidity pools with more than US$2 billion of cash and digital assets, and has already achieved 24-hour total trading volume exceeding US$150 million.
An evolution from the traditional exchange, Bullish’s proprietary Hybrid Order Book pairs the high-performance of a traditional Central Limit Order Book (CLOB) with Automated Market Making (AMM) — a protocol that uses a mathematical algorithm to facilitate prices in a transparent, market-neutral, and deterministic manner. Bullish Liquidity Pools offer clients the ability to manage balanced portfolios while earning passive yields at scale across highly variable market conditions.
“Within traditional finance, innovation has unfortunately become synonymous with complexity, creating a vacuum for closed-door decisions to thrive,” states Thomas Farley, Chairman and CEO of Far Peak Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company, who will serve as the incoming CEO of Bullish upon the completion of the proposed business combination between Bullish and FPAC.
Farley added, “The Bullish exchange aims to drive value back to underlying asset providers and fundamentally enhance the market architecture of DeFi with the high performance of a CLOB. It’s the best of both worlds that opens up new opportunities for a new era of finance.”
Bullish To Go Public On NYSE
The crypto platform previously announced its plan to go public on the NYSE through a business combination with Far Peak Acquisition Corporation, a special purpose acquisition company (SPAC), in a $9 billion deal. Subject to various approvals and conditions, the merger is now anticipated to close in the first quarter of 2022.
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