Bullish launches EOSiO-powered exchange ahead of SPAC merger

Rick Steves

Bullish uses EOSIO and the EOS Public Blockchain and claims to be the first to bring externally verifiable state integrity to a high-performance trading and asset management platform.

  1. Bullish Global has launched the much expected digital asset exchange, now available to eligible individual users and institutions in select jurisdictions within Asia-Pacific, Europe, Africa and Latin America.

The company, which is a subsidiary of EOS creator Block.one, will operate the exchange, running through central order book technology while integrating decentralized finance (DeFi) market architecture: a cryptographically validated, provable, and immutable audit trail of all transactions processed.

EOS-Powered Exchange backed by Block.one, Peter Thiel, Founders Fund, Galaxy, Nomura, and more

Earlier this year, Bullish raised more than US$10 billion in cash and digital assets first from Block.one (US$100 million, 164,000 BTC, and 20 million EOS) and then from a US$300 million strategic investment round led by Peter Thiel’s Thiel Capital.

Other leading investors include Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Galaxy Digital, and global investment bank Nomura, many of whom will serve as senior advisors to the company.

Bullish uses EOSIO and the EOS Public Blockchain and claims to be the first to bring externally verifiable state integrity to a high-performance trading and asset management platform.

Its proprietary liquidity pools have been “hydrated” with more than US$2 billion of cash and digital assets, having already achieved 24-hour total trading volume exceeding US$150 million, the company said, adding that clients are able to manage balanced portfolios while earning passive yields at scale across highly variable market conditions.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

Plans to go public on NYSE

Thomas Farley, Chairman and CEO of Far Peak Acquisition Corporation, a special purpose acquisition company, will serve as the incoming CEO of Bullish upon the completion of the proposed business combination between Bullish and FPAC.

“Within traditional finance, innovation has unfortunately become synonymous with complexity, creating a vacuum for closed-door decisions to thrive. 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”, said Farley.

Brendan Blumer, Chairman of Bullish, commented: “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.”

The Bullish exchange leverages a private EOSIO-based blockchain in order to integrate the strategic advantages of blockchain’s inherent capabilities into the platform design, and achieve a new degree of security, transparency, and resiliency.

The trading platform provides a password-free authentication environment by using WebAuthn standards, which eliminate many security vulnerabilities inherent with passwords by using public key cryptography.

Bullish plans to go public on the New York Stock Exchange via SPAC. The merger is anticipated to close in the first quarter of 2022.

Read this next

Digital Assets

Russia could use cryptocurrency in international payments as sanctions intensify

Faced with stiffening sanctions over its invasion of Ukraine, Russia is reportedly mulling the idea of accepting Bitcoin or other cryptocurrencies as payment for its international trade. Interfax news agency first reported the news on Friday, citing a high-ranking government official.

Digital Assets

Huobi buys crypto exchange Bitex to expand in Latin America

Huobi, the world’s sixth-largest crypto exchange by trading volume, has bolstered its commitment to Latin America with the acquisition of Bitex.

Digital Assets

US Senate to ban Google, Apple app stores from hosting China’s e-CNY

The US Senate could pass new legislation to ban hosting China’s e-CNY – also known as the digital yuan – by US app stores like Apple store, Google Play, and other providers.

Institutional FX

Takeprofit Tech adds Gate.io, GCEX and others to Liquidity Hub

Fintech software developer Takeprofit Tech has onboarded Gate.io, MFP Trading, Velocity Trade and GCEX to its liquidity hub solution network.

Digital Assets

Bosonic launches clearing and settlement solution for digital assets

Bosonic launched a clearing and settlement capability which provides a turnkey digital asset infrastructure platform that can be used by market operators to run their own trading venue or digital asset post-trade service.

Metaverse Gaming NFT

Immersive technologies: How VR technologies can boost our well-being

Neuro-biologists have already proven that the human brain can’t tell the initial difference between reality and deep fantasies. It works for both dreams and daydreaming. In other words, if our brain perceives something as real, we react to it as if it was true. That is why emotions we get in the skillfully-built immersive reality can be a substitute to those we get in real life. 

Digital Assets

LevelField taps METACO’s digital asset custody platform ahead of US bank charter

LevelField is comprised of career bankers who deeply understand the importance of compliance and security.

Digital Assets

JPMorgan Chase invests in crypto forensics startup Elliptic

Multinational investment bank JPMorgan Chase & Co has joined the Series C funding round for Blockchain forensics startup Elliptic, the latest sign of how major banks are warming to cryptocurrencies.

Digital Assets

Alex Iakobachvili parts ways with B2Broker to join GCEX

GCEX, a digital asset and FX technology platform for institutional and professional clients, has appointed Alex Iakobachvili to the role of Vice President of Business Development.