The blockchain-based cryptocurrency exchange, Bullish, based in Gibraltar, announced its launch on Nov. 30, with operations available to invited institutional investors including Hong Kong-based Amber Group, a crypto finance service provider.
- The Gibraltar Financial Services Commission approved Bullish for a distributed ledger technology (DLT) license on Nov. 9. The license allows the exchange to offer features such as proprietary liquidity pools that will underpin trading pairs on the exchange.
- Bullish Group is initially making available US$3 billion of balance sheet assets to the Bullish liquidity pools, which facilitate automated lending and market-making functions while maintaining a balance of the value of assets contributed during variable market conditions. Bullish Group expects to draw on its own digital assets and U.S. dollars to facilitate liquidity on the exchange.
- “As a crypto native finance service provider, we look for opportunities to work with other industry leaders who are increasing accessibility and providing unique solutions,” said Tiantian Kullander, Co-Founder of Amber Group. “We’re delighted to be working with a company that will help us grow our trading and product services.”
- At launch, the Bullish exchange’s digital assets offering comprises Bitcoin, Ether, EOS and USDC stablecoin.
- Bullish announced Nov. 1 its intention to go public through a business combination with Far Peak Acquisition Corporation, a special purpose acquisition company (SPAC) based in New York. The merger is anticipated to close by year end or soon after, and will make Far Peak LLC’s Chairman, CEO and President Thomas Farley, former president of the New York Stock Exchange, the CEO of Bullish. At this time, Bullish is not available to customers in the U.S., however.