Block.one's Bullish Launches Crypto Exchange Services

Bullish, a cryptocurrency exchange owned by Block.one, announced on Tuesday that it has launched its services to eligible users and institutions in some of the jurisdictions in Asia-Pacific, Europe, Africa and Latin America.

The launch came less than a couple of months after the exchange gained a distributed ledger technology (DLT) license from the Gibraltar Financial Services Commission (GFSC).

Bullish leverages decentralized finance (DeFi) and is built on a private EOSIO-based blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term. The exchange claims to eliminate several security vulnerabilities and is using a password-free authentication environment.

Additionally, it promises deep liquidity and low-cost transactions to both retail and institutional investors.

Brendan Blumer, the 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.”

Demand Pours In

Moreover, the exchange is witnessing a great deal of demand since its limited launch to some of the selected institutions in late November. According to the exchange, it has added $2 billion of cash and digital assets into its liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term pools and has already achieved a daily trading volume of more than $150 million.

Meanwhile, Bullish is gearing towards its merger with an American blank-check firm that will make it a public company. It has already inked a $9 billion deal for its merger with a Far Peak Acquisition Corporation (NYSE: FPAC), which is a SPAC.

“Within traditional finance, innovation has unfortunately become synonymous with complexity, creating a vacuum for closed-door decisions to thrive,” said Thomas Farley, the Chairman and CEO at FPAC.

“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.”