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.
The launch is coming less than a few months after Bullish got a distributed ledger technology license from the Gibraltar Financial Services Commission (GFSC).
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.
Besides, Bullish promises deep liquidity and low-cost transactions to both retail and institutional investors.
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.
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.
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.
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.
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;
“Within traditional finance, innovation has unfortunately become synonymous with complexity, creating a vacuum for closed-door decisions to thrive”