Gibraltar Partners with Peter Thiel-backed Bullish to Pioneer Crypto Derivatives Framework

Gibraltar has forged a landmark partnership with Bullish, the cryptocurrency exchange backed by Peter Thiel and Block.one, to establish the world’s first regulatory framework for clearing and settling crypto derivatives. Announced on May 13, the collaboration with Gibraltar’s Financial Services Commission (GFSC) introduces a TradFi-inspired risk management system for virtual asset derivatives, setting a potential benchmark for global regulators.

The framework mandates a segregated clearing house model, aligning with traditional finance standards like EMIR. Bullish’s clearing arm will accept cryptocurrencies as collateral—a move poised to accelerate institutional participation. This initiative could Ripple across jurisdictions, influencing ongoing regulatory discussions such as the EU’s MiCA framework and U.S. crypto policy debates.