Block.one, a blockchain software company, has revealed its new subsidiary called Bullish Global. The new independent arm with $10 billion funding will focus on release of Bullish, a blockchain-based cryptocurrency exchange.
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According to a blog announcement, the new exchange will be based on central order book technology with the vertically integrated user benefits of decentralized finance (DeFi) market architecture.
"The Bullish exchange will offer new automated market making, lending, and portfolio management tools to its users to deliver functionality that has previously been monopolized by incumbent players in traditional finance, while driving deeper liquidity to digital assets," Block.one said.
The exchange will reportedly use the benefits of the EOSIO blockchain to produce a validated audit trail of transactions. Block.one says the exchange raised new investments from Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Galaxy Digital, and global investment bank Nomura. The launch of the new cryptocurrency exchange is scheduled for this year.
Earlier, iHodl reported that Daniel Larimer, ex-Chief Technology Officer of Block.one, and creator of Bitshares and Steemit, revealed its new decentralized social network called Clarion.
According to Larimer, Clarion plans to give the tools to broadcast messages "without creating dependencies on centralized infrastructure." Larimer notes the new social network will achieve this with a"censorship resistant 'friend to friend' network."
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