Bullish, a Block.one’s cryptocurrency exchange platform has launched its service on Tuesday to legitimate users and institutions in some regions in Africa, Asia-pacific, Latin America, and Europe.
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The launch is coming less than a few months after Bullish got a distributed ledger technology license from the Gibraltar Financial Services Commission (GFSC).
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Bullish is leveraging DeFi (decentralized finance) and it’s built on a private EOSIO based blockchain. The exchange asserts to removing lots of security vulnerabilities and also using a password-free authentication platform.Â
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Besides, Bullish promises deep liquidity and low-cost transactions to both retail and institutional investors.
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Increase in the Demand for the Bullish service
The exchange is experiencing an increase in demand since the launch in late November to some selected institutions has a limit.
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From reports, the exchange is including a $2 billion fund and digital assets to its liquidity pools and is already achieving a daily trade volume of over $150 million.
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Meanwhile, the Bullish exchange is adjusting to its merger with an American blank check firm that will make it a public company. This merger already has a $9 billion deal connection with a Far Peak Acquisition Corporation (NYSE: FPAC), which is a SPAC.
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The exchange looks to bring value back to underlying asset providers and enhance the market structure of DeFi with the high performance of a CLOB.
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This is the best of both worlds which will open up new opportunities for a new era of finance. Thomas Farley, the Chairman, and CEO at FPAC said;
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“Within traditional finance, innovation has unfortunately become synonymous with complexity, creating a vacuum for closed-door decisions to thrive”
