Former PayPal CEO's Cryptocurrency Exchange Goes Live for Institutional Clients

Written By Guest User

“Bullish" exchange backed by PayPal co-founder is set to launch for institutional investors. Read the full article by: Arman Shirinyan

Key Points:

  • PayPal has been active this year in trying to move into the crypto space by offering BTC, ETH, and others to expand their client offerings. The ability to purchase cryptos was also made available to Venmo users as of a couple months ago.

  • This could be thanks to former CEO Peter Theil who is now working with Richard Li to launch their own crypto exchange called “Bullish”. The exchange has now opened its doors to institutional investor s and is offering Bitcoin, ETH, and EOS based tokens for trading. Among the first clients will be Amber Group, a crypto finance firm in Hong Kong, and Virtu Financial.

  • The exchange will have features including Automated Market Makers (AMMs), lending, and portfolio management. The liquidity for the exchange will be provided by the exchanges own assets. In the future Bullish is planning to go public on the NYSE through a SPAC merger with company currently being valued at $9 billion.

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