Crypto Exchange Bullish Launches in 20 US States After Securing New York BitLicense

Crypto buying and selling platform Bullish has formally entered the US market, launching operations in 20 states after securing a BitLicense and money transmission license from New York regulators.

The transfer marks a serious milestone for the trade, 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 shoppers BitGo and Nonco.

Bullish Opens Crypto Trading in New York, California, Florida and More

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 Department of Financial Services (NYDFS), is among the most rigorous regulatory approvals in the crypto sector.

With it, Bullish is cleared to transmit, maintain, and problem digital property in one of many trade’s most tightly regulated states.

The timing coincides with a broader regulatory shift in the U.S., pushed by the Trump administration’s push for deeper institutional adoption.

In response, corporations 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 ebook 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.

(*20*)

1/4 The wait is over. Bullish is now out there in the United States.

We are proud to supply establishments a brand new normal in digital asset buying and selling.

Read extra pic.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 corporations, fintech platforms, and neobanks.

In addition to New York and California, different states the place Bullish is now stay embody Arkansas, Colorado, Delaware, Hawaii, Indiana, Michigan, Missouri, Montana, New Hampshire, New Mexico, Utah, Virginia, West Virginia, Wyoming, and Puerto Rico.

Despite the enlargement, Bullish shares (BLSH) dipped 4.4% on Wednesday, closing at $60.80, in keeping with Google Finance.

Still, 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 Money 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 trade just lately made headlines by changing into the primary US-listed firm to raise over $1 billion entirely 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 means of BaFin in Germany, giving it a regulatory basis to serve institutional shoppers throughout the EU.

Its headquarters in Frankfurt locations it underneath one of the trusted monetary regulators in the world.

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