Bullish Launches Institutional Crypto Trading

TLDR

Table of Contents

Bullish expands to 20 U.S. states after obtaining key licenses from NYDFS.
The platform aims at institutional traders with zero maker and trading fees.
Bullish has handled $1.5 trillion in trading volume globally since 2021.
New York’s BitLicense approval boosts Bullish’s entry into U.S. crypto market.

Bullish, an institutional crypto trading platform, has officially launched its services in 20 U.S. states after securing crucial regulatory approvals. The company obtained both a BitLicense and a money transmission license from the New York Department of Financial Services (NYDFS) last month.

This move marks a significant milestone for the platform, enabling it to offer trading services in major U.S. markets, including New York, California, Florida, and Washington, D.C.

Licensing Boosts Bullish’s U.S. Expansion

The approval of the BitLicense is especially notable as it is one of the most challenging licenses to acquire in New York. This license is required for any entity that wishes to transmit, custody, or issue virtual currency within the state. By obtaining it, Bullish can now legally operate in New York, one of the most important U.S. markets for crypto trading. The company is also permitted to offer services in 19 other states, broadening its reach to institutional clients across the country.

On its first day of operations, Bullish launched spot trading with two institutional clients: BitGo, a crypto infrastructure firm, and Nonco, a crypto brokerage. This launch highlights the platform’s focus on catering to institutional traders rather than retail clients. The 0% maker fees for institutional accounts and 0% trading fees for advanced individual accounts are part of Bullish’s strategy to attract serious traders to the platform.

Bullish’s Trading Strategy and Market Position

Bullish claims a strong presence in global crypto markets, with $1.5 trillion in trading volume since its launch in late 2021. Despite not having a U.S. presence until now, the platform has become one of the ten largest exchanges by Bitcoin and Ether trading volume. It offers a unique trading strategy that combines a central limit order book with a deterministic automated market maker, ensuring deep liquidity and efficient trade execution for its clients.

The platform’s trading model is designed to meet the needs of large institutional players, including hedge funds, proprietary trading firms, and fintech companies. This approach is supported by its focus on providing advanced technology and performance for institutional clients, which is reflected in the platform’s competitive fee structure.

Targeting U.S. Institutional Clients

Bullish’s U.S. launch is aimed at attracting a broad range of institutional clients. The company has already secured interest from key players in the crypto industry and is positioning itself to serve hedge funds, proprietary trading firms, and neobanks, among others. The 0% maker fees and trading fee structure are designed to make the platform more attractive to these clients, who often look for cost-effective trading options.

With the crypto market continuing to evolve, Bullish’s expansion into the U.S. market reflects a growing trend of institutional adoption in the sector. By meeting regulatory requirements and offering advanced trading features, Bullish seeks to establish itself as a leading platform for institutional crypto trading in the U.S.

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