Business Wire

Bullish Goes Live With Institutional Customers After Obtaining Regulatory License in Gibraltar

Share

Bullish, a blockchain-based cryptocurrency exchange, today announced the initial launch of its platform to select institutional customers, following the receipt of a distributed ledger technology (DLT) license from the Gibraltar Financial Services Commission (GFSC).

The invitation-only launch marked a “go live” for exchange software and operations, including customer onboarding. The inaugural batch of institutions is paving the way for a full launch which is expected to also welcome retail customers.

The DLT license obtained by Bullish (GI) Limited, the exchange operator, permits the exchange to offer its unique features such as Hybrid Order Book and proprietary Liquidity Pools that will underpin trading pairs on the exchange.

Among the first institutional participants to support Bullish are a non-U.S. affiliate of Virtu Financial (NASDAQ: VIRT), the prominent, technology-enabled, global market-making firm, and Amber Group, one of the world’s leading crypto finance service providers. “We are excited to be among Bullish’s early participants and to be working with a team that is leading the evolution of digital exchange platforms,” said Douglas Cifu, Chief Executive Officer, Virtu Financial.

“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,” said Tiantian Kullander, Co-Founder of Amber Group. “We’re delighted to be working with a company that will help us grow our trading and product services.”

Brendan Blumer, Chairman of Bullish commented: “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 Group is initially making available US$3 billion of balance sheet assets to the Bullish Liquidity Pools, which facilitate automated lending and market-making functions while maintaining a balance of the value of assets contributed during variable market conditions. Bullish Group expects to draw on its own digital assets and U.S. 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.

At launch, the Bullish exchange’s digital assets offering comprises BTC, ETH, EOS and USDC. Bullish exchange intends to broaden its offerings in the future.

Bullish does not plan for its platform to be available to U.S. persons at launch and until such time as it is allowed by applicable law to onboard U.S. persons (or categories of U.S. persons) to the platform.

Bullish previously announced its intention to go public through a business combination with Far Peak Acquisition Corporation. (NYSE: FPAC), a special purpose acquisition company. Subject to various approvals and conditions, the merger is anticipated to close in the fourth quarter of 2021 or the first quarter of 2022.

About Bullish

Focused on developing products and services for the digital assets sector, Bullish has rewired the traditional exchange to benefit asset holders, enable traders and increase market integrity. Supported by the group’s treasury, Bullish’s new breed of exchange combines deep liquidity, automated market making and industry-leading security to increase the accessibility of digital assets for traders. Bullish exchange is operated by Bullish (GI) Limited and is regulated by the Gibraltar Financial Services Commission (GFSC) (DLT license: FSC1038FSA). For more information on the Bullish exchange, please visit bullish.com.

About Far Peak Acquisition Corporation

Far Peak Acquisition Corporation (FPAC) was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination in the financial technology, technology or financial services industries. The company is sponsored by Far Peak LLC, which is ultimately owned by Thomas W. Farley, the company’s Chairman and Chief Executive Officer, and David W. Bonanno, the company’s Chief Financial Officer. In addition, funds and accounts managed by BlackRock have made an anchor investment in the company. For more information about FPAC, please visit https://www.farpeak.com.

Contacts
media@bullish.com
investors@bullish.com
contact@farpeak.com

Forward-Looking Statements

This communication includes, and oral statements made from time to time by representatives of FPAC and Bullish Global may be considered, “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or FPAC’s or Bullish’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. In addition, these forward-looking statements include, but are not limited to, statements regarding Bullish Global’s business strategy, cash resources, current and prospective product or services, as well as the potential market opportunity. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by FPAC and its management, and Bullish Global and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements respecting the Business Combination; (2) the outcome of any legal proceedings that may be instituted against FPAC, Bullish or Bullish Global or others following the announcement of the Business Combination; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of FPAC or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations; (5) the ability of Bullish to meet applicable listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Bullish Global as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that Bullish may be adversely affected by other economic, business and/or competitive factors; (11) the impact of COVID-19 on Bullish Global’s business and/or the ability of the parties to complete the Business Combination; and (12) other risks and uncertainties set forth in the section entitled “Risk Factors” in the Bullish Investor Presentation dated July 2021, in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the preliminary proxy statement/prospectus included in the registration statement on Form F-4 (File No. 333-260659) (the “Registration Statement”) filed by Bullish with the U.S. Securities and Exchange Commission (the “SEC”), in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in FPAC’s IPO Prospectus dated December 2, 2020 filed with the SEC on December 3, 2020, in the section entitled “Risk Factors” in FPAC’s most-recent Quarterly Report on Form 10-Q, as well as any further risks and uncertainties to be contained in any other material filed with the SEC by Bullish or FPAC. In addition, there may be additional risks that neither FPAC or Bullish Global presently know, or that FPAC or Bullish Global currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither FPAC, Bullish nor Bullish Global undertakes any duty to update these forward-looking statements.

Important Information and Where to Find It

This document does not contain all the information that should be considered concerning the proposed Business Combination. It does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. It is not intended to form the basis of any investment decision or any other decision in respect of the proposed Business Combination. In connection with the proposed Business Combination, Bullish has filed the Registration Statement with the SEC which includes a preliminary proxy statement / prospectus with respect to the Business Combination. After the Registration Statement is declared effective, the definitive proxy statement / prospectus and other relevant documentation will be mailed to FPAC shareholders as of a record date to be established for purposes of voting on the Business Combination. FPAC shareholders and other interested persons are advised to read the preliminary proxy statement / prospectus and any amendments thereto, when available, and the definitive proxy statement / prospectus because these materials contain and will contain important information about Bullish, FPAC and the proposed transactions. Shareholders may obtain a copy of the preliminary proxy statement / prospectus and, when available, the definitive proxy statement / prospectus without charge, at the SEC’s website at http://sec.gov or by directing a request to: Far Peak Acquisition Corp., 511 6th Ave #7342, New York, NY 10011. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation

FPAC, Bullish, Bullish Global and their respective directors and executive officers, other members of management and employees may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information regarding persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the potential transaction and a description of their interests is set forth in the preliminary proxy statement/prospectus included in the Registration Statement and will be included in the definitive proxy statement/prospectus and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This communication is for informational purpose only and not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Bullish or FPAC, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Christina Pantin
media@bullish.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Saudi Space Commission announces launch of Saudi Space Accelerator Program5.12.2022 15:52:00 CET | Press release

Saudi Space Commission announces the launch of its Saudi Space Accelerator Program in line with the Kingdom's vision of becoming a global hub of innovation by 2030. The program seeks to enhance the national Space sector through the development of its infrastructure and enabling local entrepreneurs and businesses to advance innovative Space solutions. The Program addresses the current state in the Kingdom's Space sector and proposes proactive Space solutions. Through the implementation of this program, the commission will ignite the local ecosystem and determine its maturity level, and to ensure that the sector remains viable for years to come, by providing an established business environment for growth and innovation for entrepreneurs to thrive in – overall improving the effectiveness of the commission's future programs and initiatives over the long-run. The Saudi Space Accelerator Program is being supported by a greater initiative; The future Office for Entrepreneurship Development, t

Advent Technologies Completes Fuel Cell Project for the European Space Agency5.12.2022 15:00:00 CET | Press release

Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced the successful completion of a research and development project commissioned under a programme of and funded by the European Space Agency (“ESA”), dedicated to the development of a closed-loop regenerative fuel cell system (“RFCS”) earlier this year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221205005299/en/ The project started in 2014, with Advent as the prime contractor. Subcontractors included the Centre for Research and Technology – Hellas, the Foundation for Research and Technology – Hellas, and the University of Patras. The project concluded with the successful delivery of the high-temperature proton exchange membrane (“HT-PEM”) stack to ESA. During a highly successful testing phase, the RFCS demonstrated its ability to effectively meet the power

Duravant Acquires Marelec Food Technologies5.12.2022 15:00:00 CET | Press release

Duravant LLC (“Duravant”), a global engineered equipment and automation solutions provider to the food processing, packaging and material handling sectors, announced today that it has acquired Marelec Food Technologies (“Marelec”), a leading manufacturer of intelligent portioning and customized weighing and grading solutions headquartered in Nieuwpoort, Belgium. Marelec serves the poultry, meat, seafood and marine sectors, designing and manufacturing innovative turnkey systems that ensure high-quality output and maximum yield for food processors around the world. “Our new partnership further enhances Duravant’s front line position in the growing food processing segment,” said Mike Kachmer, President and CEO of Duravant. “Marelec’s intense focus on providing outstanding service and continuous innovation has been the foundation of their success, and their legacy of market leadership makes them a perfect addition to the Duravant family.” Recognized globally as a high-tech solutions provid

First Patients in the World Treated with Impella RP Flex with SmartAssist5.12.2022 14:03:00 CET | Press release

Abiomed (Nasdaq: ABMD) announces the first three patients in the world have been treated with Impella RP Flex with SmartAssist, Abiomed’s newest heart pump for patients experiencing right heart failure. All three patients have now been successfully weaned off Impella support and two have already returned home with their native heart. The patients were treated at Hackensack University Medical Center/Hackensack Meridian Health in Hackensack, N.J., and Kingwood Medical Center in Kingwood, Texas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221205005137/en/ Impella RP Flex with SmartAssist Illustration (Graphic: Business Wire) Impella RP Flex is implanted percutaneously through the internal jugular (IJ) vein, which provides the option for patient mobility while on support, and is designed to be easy to implant, with a flexible canula that is advanced over an extra-supportive guidewire. It includes SmartAssist dual-sensor techn

Reply Ranked “Best in Class” in the PAC Innovation RADAR on Salesforce-related Services in Europe5.12.2022 09:30:00 CET | Press release

Reply is among the leading Salesforce service providers in the PAC Innovation RADAR "Leading Salesforce Service Providers in Europe 2022", an industry study by the independent research and consulting company Teknowlogy Group. In the PAC Radar, Reply receives the “Best in Class” badge in five industries: Energy & Utilities, Financial Services, Communications & Media, Retail and Manufacturing. The study analyses the service performance of international software and ICT service providers that implement Salesforce projects in dedicated IT market segments. PAC uses predefined criteria to analyse the strategy, development and market position of the providers and to evaluate services and competencies. For IT decision-makers, the PAC Radar offers guidance in choosing the right service partner. Reply achieves the “Best in Class” rank for the industries Energy & Utilities, Financial Services, Communications & Media, Retail and Manufacturing sectors due to its outstanding expertise and market str

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom