Riding the Crypto Wave
Block.one is making waves with its cryptocurrency exchange subsidiary, Bullish. With the official announcement on Wednesday that Bullish Limited has secured a Distributed Ledger Technology license from the Gibraltar Financial Services Commission (GFSC), it’s clear that this isn’t just a mere ripple in the blockchain ocean.
What is Bullish and Why Gibraltar?
Bullish isn’t your average crypto exchange. Announced in May 2021, it’s designed to leverage the EOS.IO protocol to create a robust trading experience for both institutional and retail users. Brendan Blumer, Block.one CEO and Bullish chairman, sees Gibraltar as the new blockchain paradise, stating it’s becoming a “leading blockchain and virtual assets hub.” And honestly, who wouldn’t want to live in a place that sounds like a mix between a rock band and a financial fortress?
Trust, Compliance, and Security Galore
Blumer highlights that obtaining this license isn’t just a feather in their cap; it’s a signal to users everywhere that Bullish is a trustworthy option in the crypto chaos. He emphasized their commitment to compliance and security to protect clients, explaining,
“Securing this license signals that the Bullish exchange is a platform that institutional and retail users can trust.”
A $10 Billion Power Play
Late last year, Block.one raised a staggering $10 billion to help launch this ambitious exchange. With high-profile investors like Mike Novogratz and Peter Thiel backing them, it’s like Bullish is sitting on a gold mine – if only crypto could be used for actual mining!
Looking Ahead: The Future of Bullish
Bullish may not be live yet, but it’s not just sitting around. In July, they had plans to go public on the New York Stock Exchange, aiming for a flashy debut valuation of $9 billion. The company is set to merge with Far Peak Acquisition, led by former NYSE president Thomas Farley. And who knows, this merger might just bring the kind of excitement that Edward Munster brings to a Sunday BBQ.
Gibraltar’s Crypto Renaissance
Gibraltar is turning into quite the hub for crypto businesses. Notably, Huobi, one of the largest exchanges globally, has also relocated its spot-trading operations there after taking flight from the regulatory challenges in China. It seems Gibraltar is the belle of the blockchain ball, attracting everyone in the industry.
