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FRANKFURT - Digital asset platform Bullish (NYSE:BLSH), a prominent player in the Capital Markets industry with a market capitalization of $7.16 billion, announced Friday that its German subsidiary, Bullish Europe GmbH, has secured a license under the Markets in Crypto-Assets Regulation (MiCAR) from the German Federal Financial Supervisory Authority (BaFin). According to InvestingPro analysis, the company’s stock currently trades near its 52-week low of $48.29, suggesting potential value opportunity.
The license allows Bullish to provide digital asset trading and custody services across the European Union. The company was previously operating under grandfathered crypto brokerage and custody licenses from BaFin.
"Europe is the second largest cryptoasset economy in the world and institutional demand for regulated, transparent trading venues is growing rapidly," said Chris Tyrer, President of Bullish Exchange.
Bullish maintains its European headquarters in Frankfurt, home to the European Central Bank. Under MiCAR, the company will continue to be supervised by BaFin, which Marco Bodewein, Managing Director of Bullish Europe, described as "a bedrock of trust for our European operations."
The EU MiCAR license follows Bullish’s recent regulatory approvals in Germany and Hong Kong. The company operates Bullish Exchange, a digital assets spot and derivatives exchange, and owns CoinDesk Indices, CoinDesk Data, and CoinDesk Insights.
This information is based on a press release statement from Bullish.
In other recent news, Compass Point initiated coverage on Bullish, a cryptocurrency exchange, with a Neutral rating and set a price target of $45. The research firm highlighted Bullish’s focus on serving institutional traders outside the United States. Compass Point noted potential opportunities for Bullish to gain market share in the U.S. market, which is currently dominated by Coinbase. These developments suggest a watchful approach by Compass Point as they assess Bullish’s potential in the competitive U.S. crypto market. This coverage initiation reflects an interest in Bullish’s international presence and possible expansion opportunities. Investors may find these insights useful when considering Bullish’s market position and future prospects.
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