Breaking: This Thiel-Backed Institutional Crypto Exchange is getting Traction, Here’s Why
Crypto exchanges catering solely to institutional players are on a rise, with yet another big name in the industry backing a similar project. Peter Thiel-backed crypto exchange, Bullish has announced that it will now offer crypto trading services for enterprises and also plans on eventually extending its reach into the retail market. The institutional crypto exchange commenced operations today with offerings of Bitcoin, Ether, EOS tokens and USD coins.
Furthermore, according to Forbes, the exchange platform’s early clientage consists of a non-U.S. affiliate of Virtu Financial, the electronic market-making firm based in New York, and the Hong Kong-based crypto finance firm Amber Group. However, the platform is currently only offering services in the U.K., Germany and Brazil, but is not available in the US as of now. While Bullish is a substantially new company, which was launched earlier this year, yet, it has seen rapid growth, as its parent company, Block.one, a blockchain software company, is backed by a group of eminent investors including PayPal’s Peter Thiel, along with hedge fund managers, Alan Howard and Louis Bacon, and the Hong Kong business tycoon, Richard Li. Additionally, according to Bloomberg’s report, Bullish also has plans to go public before March 2022 through a merger with the special-purpose acquisition company Far Peak Acquisition Corp.
Brendan Blumer, the chairman of Bullish told Forbes that the infrastructure of the exchange is “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.”
Ripple Offers Crypto Services to Institutions
Bullish is not the first company to launch enterprises focuses crypto trading services. Earlier today, CoinGape reported on Ripple’s exclusive crypto project called the Liquidity Hub, which will allow financial service firms to trade cryptocurrencies like, the OG Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash, and the most controversial XRP. However, Liquidity Hub will mainly utilize XRP ledger as the main system.
- Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin
- Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms
- Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder
- BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF
- Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?
- XRP Price Outlook After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
- Ethereum Price Eyes $8,600 As Institutions And Whales Double Down
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
