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 . 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 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.”
