Block.one, the developer of the EOS.IO protocol – the EOS blockchain network – is continuing development through the cryptocurrency exchange Bullish.
Bullish has officially announced on Wednesday that its subsidiary Bullish Limited has obtained a license for distributed ledger technology from the Gibraltar Financial Services Authority (GFSC).
Obtaining regulatory approval is an important milestone before launching the exchange. Block.one has announced plans to set up an exchange in May 2021.
Block.one CEO and Optimistic Chairman Brendan Bloomer said Gibraltar is a “major hub for blockchain and virtual assets” that can provide a basis for crypto-focused companies to “operate securely and in line with industry best practices.”
“The protection of this license indicates that Bullish Exchange is a platform that institutional and individual users can trust. It also underscores our commitment to customer protection, regulatory compliance, and industry-leading security prior to launching the exchange and continuing our progress toward launch. …
Block.one raised $10 billion earlier this year to launch a cryptocurrency exchange based on the public EOS blockchain. Notable investors in bulls include Galaxy Digital CEO Mike Novogratz, billionaire hedge fund manager Alan Howard, PayPal co-founder and billionaire venture capitalist Peter Thiel.
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Despite the fact that Bullish has not yet been implemented, the company already has ambitious plans. In July, Bullish announced that the company intends to go public on the New York Stock Exchange for $9 billion. The company is ready for a public listing through a merger with private acquirer Far Peak Acquisition, led by former NYSE President Thomas Farley, who will take over as the company’s CEO.
Gibraltar has recently been attracting so many crypto companies that Huobi, one of the world’s largest cryptocurrency exchanges, has moved its spot business to Gibraltar after leaving China.