SoftBank Invests $75 M in the Crypto Platform Bullish

by in Cryptocurrency News

Peter Thiel crypto Bullish

Japan’s global financial institution SoftBank invested in the crypto platform Bullish owned by businessman, and philanthropist Peter Thiel. Particularly, the company’s branch SB Northstar made a $75 M listing with the US SEC.

Related: Another major Korean bank will work with cryptocurrencies

Per the paper, SoftBank will obtain 7.5 mln shares paying $10 for one. The agreement is in terms of Bullish’s nearing special purpose acquisition (SPAC). The crypto exchange’s value is estimated at $9 bln.

Bullish intends to bring out a regulatory crypto platform by the end of this year. The project received funds by Peter Thiel, Galaxy Digital, and others. Before the launch, it will merge with publicly-traded developmental stage firm Far Peak Acquisition.

The blank check company’s executive Thomas Farley will be the CEO of the platform and the blockchain software company CEO Brendan Blumer will be its chairman.

Earlier, Boston-based P2P payments technology company Circle which developed the stablecoin USD Coin revealed joining with a spac vehicle and listing on the NY Stock Exchange.