Bullish, a cryptocurrency exchange backed by billionaire entrepreneur Peter Thiel, announced the launch of its services for institutional customers. The exchange said in a press release that at launch it will offer only bitcoin (EXANTE: Bitcoin), ether (ETH), EOS and USD coin (USDC). However, at launch Bullish does not plan for its platform to be available to US customers.
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Brendan Blumer, Chairman of Bullish, claims that the team behind the exchange for years has been working on the platform's infrastructure focused on meeting the needs of investors "who are seeking secure exposure to digital assets on a regulated platform."
Bullish Group says it wants to draw on its own cryptocurrencies and US dollars to facilitate liquidity on the exchange and will "gradually contribute these assets to the exchange's liquidity pools to provide a competitive order book liquidity depth for customers."
The launch comes after Bullish obtained a license from the Gibraltar Financial Services Commission (GFSC). Brendan Blumer, Chairman of Bullish, said the approval license signals "that the Bullish exchange is a platform that institutional and retail users can trust." At the same time, Bullish pushed back the date for going public through a business combination with Far Peak Acquisition Corporation.
Initially, the exchange said the transaction was expected to close by the end of 2021. However, according to the updated information from the announcement the merger is anticipated to close in the fourth quarter of 2021 or "the first quarter of 2022."
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