Peter Thiel-backed Crypto Exchange Bullish Inks Trading Deal With B2C2

Institutional trading platform B2C2 has tapped crypto exchange Bullish to continue to deliver liquidity across the crypto market.

“For us, the decision to add Bullish came from their unique approach to exchange liquidity, coupled with their strong management team,” a spokesperson from B2C2 said. “We have seen the industry follow suit as Bullish recently broke into the top 10 exchanges by volume per CoinMetrics.”

Per public data via CoinGecko, Bullish has facilitated more than $600 million in trading volume over the past 24 hours. The top pairs include Bitcoin, Ethereum, and the markets’ largest stablecoins, USDT and USDC.

“[This partnership] allows Bullish’s deep and unique liquidity to be accessed by B2C2’s large, institutional client base,” a spokesperson for Bullish told Decrypt via email. “Both Bullish and B2C2 take very seriously the counterparts we partner with. The fact that we have chosen to work together enhances the credibility of both organizations.”

Bullish launched in November 2021 and has since reportedly reached a total trading volume of over $200 billion.

The exchange is backed by some notable names such as PayPal co-founder, Peter Thiel, hedge fund managers Alan Howard and Louis Bacon as well as Hong Kong billionaire Richard Li.

Liquidity providers and exchanges

The relationship between liquidity providers and exchanges is often overlooked, however, they are symbiotic and are important to a healthy ecosystem.

“Our relationship with exchanges is important for the provision of liquidity—we provide an integral role in enhancing liquidity and transparency by providing consistent bid/ask spreads and adding to order book depth, resulting in a better trading experience for the market,” the B2C2 spokesperson said.

The crypto-trading firm located in the United Kingdom, B2C2, has touted itself as “a leading crypto-native liquidity provider across market conditions for institutions globally” because of internal data. In 2022, they won the FX Markets best liquidity provider for crypto derivatives award.