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Block.one’s Bullish exchange goes live for select institutions

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Bullish cryptocurrency exchange has started working for a limited group of institutional investors. A full-fledged launch with the admission of retail customers is planned for a later date.

Thus, the operator of the platform is a subsidiary of Block.one company behind the development of the EOSIO project.

Moreover, the firm invested $10 billion in the capital of Bullish Global. Bullish Global is an independent company; in which Block.one invested $100 million in fiat currencies, 164,000 BTC and 20 million EOS.

Expanding list of assets in the future

Another $300 million in funding came from strategic investors, including Peter Thiel’s Thiel Capital and Founders, Galaxy Digital, Nomura, billionaire Alan Howard and others. Against the background of the news about the launch of Bullish, the price of EOS increased by 22% per day – to $11.33.

According to Forbes, the platform initially offered support for Bitcoin (BTC), Ethereum (ETH), EOS and the USD Coin (USDC) stablecoin. The exchange has announced an expansion of the asset listing in the future. To create markets, the exchange sent its assets worth $3 billion to the liquidity pools.

Among the first clients of Bullish are the foreign branch of the New York-based firm Virtu Financial and the Hong Kong cryptocurrency company Amber Group. Furthermore, the basis of the platform’s infrastructure is the open-source software EOSIO.

License from Gibraltar regulatory authorities

Previously, Bullish Global received a license to provide services in the field of distributed ledger technology (DLT) from the Gibraltar Financial Services Commission (GFSC).

It was a significant step toward the exchange’s implementation. Brendan Blumer, CEO of Block.one and chairman of Bullish, said Gibraltar is emerging as a “leading blockchain and virtual assets hub” that can help crypto-focused organizations “operate securely and in compliance with industry best practises.”

Recall that earlier in June, Mike Novogratz’s Cryptology Asset Group announced $100M crypto investment fund. In particular, Cryptology offered liquid shares to Bullish exchange.

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