Bullish operates a regulated, full‑reserve digital asset exchange that offers near‑zero spreads and low taker fees for spot, margin, and derivatives trading of major cryptocurrencies. The platform combines a central limit order book with a proprietary automated market maker to deliver deep, low‑slippage liquidity, while its custodial architecture and multi‑layer security keep customer funds segregated and protected. Institutional‑grade APIs (REST, WebSocket, FIX) enable high‑speed, automated order routing and real‑time market data for professional investors.
Funding
$300M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
8OTCFounders
Product
Problem
Institutional and professional crypto traders often face fragmented liquidity, high fees, and uncertain custody security across multiple exchanges, making efficient execution and asset protection difficult.
Solution
Bullish operates a regulated, full‑reserve digital asset exchange that delivers near‑zero spreads and low taker fees for spot, margin, and derivatives trading. The platform combines a central limit order book with a proprietary automated market maker to provide deep, consistent liquidity across BTC, ETH, and other major assets. Robust custody architecture, including cold‑wallet storage, multi‑signature controls, and segregation of customer funds, ensures asset safety. Institutional‑grade APIs (REST, WebSocket, FIX) enable automated, high‑speed order routing and real‑time market data. Comprehensive compliance—MSB registration, FinCEN, NYDFS, BaFin, HK SFC, and GFSC licenses—offers a trusted environment for professional investors.
Target Audience
Primary customers are institutional investors, professional trading firms, and qualified professional traders seeking secure, low‑cost crypto execution and custody services.
Features
- Central limit order book integrated with a proprietary AMM for deterministic deep liquidity and minimal slippage
- Near‑zero maker fees and taker fees as low as 0–0.03% on spot markets, with competitive margin and derivatives pricing
- Full‑reserve model with 1:1 segregation of customer assets and cold‑wallet custody backed by BitGo and Fireblocks
- Multi‑layer security: hardware cold storage, multi‑signature wallets, signed software components, and SOC 1/2 compliance
- Institutional API suite supporting REST, WebSocket, and FIX 4.4 for order execution, market data, and account management
- Cross‑asset margining and auto‑borrow/auto‑repay features for capital‑efficient margin trading
- Regulatory coverage across 50+ jurisdictions, including US (FinCEN, NYDFS), EU (BaFin, MiCA), HK (SFC), and Gibraltar (GFSC)