Crypto buying and selling platform Bullish has formally entered the US market, launching operations in 20 states after securing a BitLicense and cash transmission license from New York regulators.
Key Takeaways:
- Bullish has launched crypto buying and selling in 20 U.S. states after securing a New York BitLicense.
- The platform is focusing on institutional purchasers with zero maker charges and deep liquidity instruments.
- Regardless of the launch, Bullish shares dropped 4.4% however stay up over 60% since August.
The transfer marks a serious milestone for the change, which has processed over $1.5 trillion in world buying and selling quantity since its debut in late 2021.
On its first day of US operations, Bullish enabled spot buying and selling for institutional purchasers BitGo and Nonco.
Bullish Opens Crypto Buying and selling in New York, California, Florida and Extra
Key markets now open to the platform embody New York, California, Florida, Arizona, and Washington, D.C., amongst others.
A BitLicense, issued by the New York State Division of Monetary Providers (NYDFS), is without doubt one of the most rigorous regulatory approvals within the crypto sector.
With it, Bullish is cleared to transmit, maintain, and challenge digital belongings in one of many business’s most tightly regulated states.
The timing coincides with a broader regulatory shift within the U.S., pushed by the Trump administration’s push for deeper institutional adoption.
In response, companies like Coinbase, Binance, and Stripe are increasing crypto-as-a-service and stablecoin merchandise to fulfill rising demand from institutional gamers.
Bullish president Chris Tyrer highlighted the platform’s hybrid mannequin combining a central restrict order guide with an automatic market maker to ship deep liquidity and steady execution.
“We constructed Bullish for establishments, and now we’re able to convey that efficiency to severe U.S. merchants,” Tyrer stated.
1/4 The wait is over. Bullish is now accessible in the USA.
We’re proud to supply establishments a brand new normal in digital asset buying and selling.
Learn extrapic.twitter.com/KfFzoj7k6p
— Bullish (@Bullish) October 1, 2025
The platform is providing zero maker charges for establishments and free buying and selling for superior particular person customers throughout all authorised states.
Bullish plans to onboard hedge funds, market makers, proprietary buying and selling companies, fintech platforms, and neobanks.
Along with New York and California, different states the place Bullish is now dwell embody Arkansas, Colorado, Delaware, Hawaii, Indiana, Michigan, Missouri, Montana, New Hampshire, New Mexico, Utah, Virginia, West Virginia, Wyoming, and Puerto Rico.
Regardless of the growth, Bullish shares (BLSH) dipped 4.4% on Wednesday, closing at $60.80, in keeping with Google Finance.
Nonetheless, the inventory stays up greater than 60% since its IPO in August, inserting its present valuation at round $9 billion.
Bullish Rides IPO Momentum and European Licenses to Enter US Market
Bullish’s BitLicense and Cash Transmission License in New York comes amid the corporate’s rising worldwide presence, which now spans the EU, Hong Kong, Gibraltar, and the US.
The change not too long ago made headlines by changing into the primary US-listed firm to lift over $1 billion completely in stablecoins throughout its NYSE IPO in August, with backing from Peter Thiel.
The capital increase was settled throughout blockchain networks like Solana, reflecting Bullish’s dedication to digital-native finance.
In Europe, Bullish achieved a MiCAR license uplift by BaFin in Germany, giving it a regulatory basis to serve institutional purchasers throughout the EU.
Its headquarters in Frankfurt locations it beneath probably the most trusted monetary regulators on the planet.
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