The Bullish hybrid exchange opens to institutional investors
The Bullish hybrid exchange opens to institutional investors
Crypto

The Bullish hybrid exchange opens to institutional investors

By Alfredo de Candia - 30 Nov 2021

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It was only a few minutes ago that the Bullish hybrid exchange announced its opening for institutional clients:

A couple of weeks ago the Bullish exchange was granted a Distributed Ledger Technology (DLT) license by the Gibraltar Financial Services Commission (GFSC), allowing it to operate as an exchange and provide crypto trading services.

One of the peculiarities of this exchange, in addition to having immense liquidity in excess of $9 billion, is that it operates as a hybrid exchange, insofar as the various tests carried out in previous months have shown that it can execute traditional trading orders, with the various pairs with Bitcoin, Ethereum, EOS and the stablecoin USDC, but also using a liquidity pool.

Crypto assets and Institutions

One of the problems that institutional investors in particular face is not being able to access decentralized finance instruments (DeFi) as the various platforms such as Uniswap and others are not regulated platforms and as a result, the major players and institutions prefer not to access them.

In this case, as stated in the press release, the Bullish exchange will start with $3 billion in pools, three pools of $1 billion each for Bitcoin, Ethereum and EOS. For comparison, the Ethereum pool on Uniswap has $1.07 billion, while the one with wBTC, the token pegged to Bitcoin, has barely $430 million.

It is understandable that with these figures, the exchange has an advantage over its decentralized competitors, which by their nature cannot attract institutional investment.

In fact, in the press release we can see some important names that have decided to support and use the Bullish exchange. These include Virtu Financial and Amber Group, which have billions in assets under management.

As Tiantian Kullander, co-founder of Amber Group, said, the use of this platform will expand the services they can offer their institutional clients:

“As a crypto native finance service provider, we look for opportunities to work with other industry leaders who are increasing accessibility and providing unique solutions. We’re delighted to be working with a company that will help us grow our trading and product services”.

Brendan Blumer, director of Bullish, also pointed out that this platform meets the needs of an audience that is interested in these assets but has no market outlets to interact with these advanced tools:

“For years, we’ve been working to develop an exchange infrastructure that’s designed to meet the needs of investors who are seeking secure exposure to digital assets on a regulated platform, and with innovative liquidity and portfolio management options stemming from an entirely new exchange architecture. Bullish is the very culmination of this work and I am very proud of our team for getting us to where we are today”.

Bullish and the link to EOS

Bullish is up and running, but not fully, as it excludes retail users for the moment, although it will certainly open up to them in a few weeks and provide unprecedented liquidity, especially for EOS.

It is also worth noting that transactions and confirmations of various orders and trades will be recorded on the EOS blockchain: here we can see one of Bullish’s accounts on the blockchain with transactions worth millions of EOS. 

The latest news about EOS

As far as the EOS blockchain is concerned, the latest updates also concern the Pomelo platform, a crowdfunding platform for projects based on this blockchain that has grown to over 70 projects including a token that is very similar to Zcash (ZEC) and is called ZEOS.

In addition, there has also recently been the transfer of 45 million EOS to Helios, an investment fund managed by none other than Brock Pierce, who will be running in the next US Senate elections.

In addition, on the decentralized applications (dApps) side, 2 dApps have been approved and legalized by the Venezuelan government to operate within the country without any problems.

Finally, thanks to this news we see that the price of EOS is rising and has already marked over +4% and is trading at just over $4.

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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