Sitting on $10 billion in capital, Block.one launches exchange Bullish Global

Bullish, with $10 billion in capital, may become another strong competitor in the exchange space.

Sitting on  billion in capital, Block.one launches exchange Bullish Global

On May 11, Block.one, the development company behind the EOSIO open source software, announced the formation of a newly formed subsidiary, Bullish Global. Operating as a separate entity under Block.one’s parent company, Bullish Global will focus on launching Bullish in 2021, a new blockchain-based cryptocurrency currency exchange designed to combine the performance, user privacy and compliance offered by central order book technology with the vertically integrated user benefits of a decentralized financial (DeFi) marketplace architecture.

Bullish Exchange will offer its users new automated market making (AMM), lending and portfolio management tools to provide functionality previously monopolized by existing players in the traditional financial industry, while driving deeper liquidity in digital assets.

Bullish will leverage EOSIO and the EOS public chain to generate a cryptographically verified, provable and immutable audit trail of all transactions processed on the Bullish platform. In doing so, it will be the first company to bring externally verifiable state integrity to a high-performance transaction and asset management platform.

After an initial $100 million cash injection by Block.one, 164,000 BTC and 20 million EOS, and the completion of another $300 million strategic investment, Bullish Global now has over $10 billion in cash and digital asset capital. Among the prominent investors who led the $300 million funding round are Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li Christian Angermayer, Galaxy Digital Investments and Nomura Securities, a global investment bank.

In addition to participating in Bullish Global’s latest funding round, Peter Thiel, Alan Howard, Richard Li and Christian Angermayer will serve as senior advisors to the company.

Brendan Blumer, CEO of Block.one, said,

“Bullish Exchange will revolutionize the high-performance trading landscape by leveraging blockchain technology and a new marketplace architecture to provide institutions and individuals with better, more secure access to the latest cryptocurrency investment strategies by transparently automating expensive third-party functions and transforming them into yield-generating portfolio management tools. “
Thiel said.

“Bullish’s balance sheet is strong and its vertical integration provides stability and liquidity to the cryptocurrency space. I am excited to join Bullish as an investor and advisor as it embarks on a long and fruitful journey.”
“Successfully bridging the gap between digital assets and institutional players will shape the future of the financial industry as we witness the increasingly widespread mainstream adoption of digital currencies. I’m excited to be part of Bullish’s mission to empower users with more value-added control over their financial future .” Howard said.
Louis Bacon commented, “The cryptocurrency market continues to benefit from institutional adoption and Bullish is well positioned to leverage a blockchain-based market structure that will play an important role in further improving access to services for both institutional and retail investors.”

Li adds.

” Bullish has built a strong team dedicated to bringing innovative and compliant solutions to market, and I am excited to join the Bullish consulting team to draw on my experience to drive global success.”
Novogratz mentioned.

” Bullish’s volume coupled with Block.one’s experience in high performance blockchain engineering will make Bullish a strong player from the start. I’m excited to move forward with this team.”
Jez Mohideen, Chief Digital Officer, Wholesale Division, Nomura Securities (Nomura), adds.

“We are excited to join Bullish as an investor and to work closely with them to further accelerate the institutionalization of the digital asset class.”

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/sitting-on-10-billion-in-capital-block-one-launches-exchange-bullish-global/
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