Bullish received a New York BitLicense and Money Transmission License from NYDFS, allowing the Peter Thiel-backed exchange to operate in the U.S. for trading and custody of digital assets. This regulatory approval enables institutional services previously restricted to non-U.S. customers.
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Bullish granted BitLicense and Money Transmission License by NYDFS
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Shares rose after announcement; Bullish debuted on the NYSE in August
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Licenses clear path for U.S. institutional trading and custody; Yahoo Finance reports BLSH trading data
Meta description: Bullish BitLicense: Bullish secures NYDFS BitLicense and Money Transmission License, enabling U.S. operations and institutional trading — read what this means now.
What is the significance of Bullish’s BitLicense and Money Transmission License?
Bullish BitLicense approval from the New York Department of Financial Services permits the exchange to offer regulated digital-asset trading and custody services within the U.S. This regulatory clearance opens the U.S. market to institutional clients and aligns Bullish with compliance standards expected by large financial counterparties.
How did regulators and the market react to Bullish’s approval?
New York regulators are known for strict virtual currency rules. The market reacted positively: Bullish shares rose after the announcement. Yahoo Finance data shows BLSH trading at $53.83 on the announcement day, with an IPO high of $118. Analysts noted that a U.S. license was a key barrier to growth.
Why does the BitLicense matter for institutional trading?
BitLicense establishes a regulatory framework that many institutional counterparties require before engaging with a digital-asset platform. With both BitLicense and a Money Transmission License, Bullish can custody assets, settle trades and offer institutional services under New York’s compliance regime.
What did Bullish executives say about the license?
Bullish CEO Tom Farley said receiving a BitLicense and Money Transmission License from the New York Department of Financial Services “is a testament to Bullish’s commitment to regulatory compliance and our dedication to building trusted, institutional-grade digital asset infrastructure in key global markets.” This statement underscores the company’s position on regulatory-first market entry.
How does Bullish compare to Coinbase after licensing?
Licensing narrows the regulatory gap between Bullish and established U.S. competitors. Analysts at Compass Point noted Bullish’s low fee structure as a competitive advantage. Coinbase remains the largest U.S. institutional venue, but Bullish’s new licenses position it to contend for institutional flow.
| Feature | Bullish | Coinbase |
|---|---|---|
| U.S. Regulatory Status | NYDFS BitLicense & Money Transmission License (granted) | Regulated; established U.S. market presence |
| Institutional Focus | Primary target after licensing | Established institutional product suite |
| Fee Structure | Lower-fee model noted by analysts | Market-standard fees; higher liquidity |
When did Bullish go public and what was the IPO performance?
Bullish debuted on the New York Stock Exchange in August. The IPO was priced at $37, shares rose to as high as $118 during the debut, and were trading at $53.83 on the announcement day, according to Yahoo Finance. Earlier SPAC plans in 2021 valued the company near $9 billion but were delayed until market conditions improved.
Frequently Asked Questions
How will the licenses affect Bullish’s product availability for U.S. investors?
Licenses permit Bullish to roll out institutional trading and custody services to U.S. clients, subject to operational readiness and compliance checks. Institutional onboarding will require KYC/AML completion and contractual setup.
Is this license common for crypto exchanges in New York?
New York’s BitLicense is selective and often regarded as one of the stricter regulatory approvals in the U.S. Only firms meeting detailed compliance, capital, and reporting standards typically gain approval.
Key Takeaways
- Regulatory milestone: Bullish now holds a BitLicense and Money Transmission License from NYDFS, enabling U.S. operations.
- Market impact: Shares rose on the announcement; the license removes a key growth barrier noted by analysts.
- Institutional opportunity: Licensing positions Bullish to pursue institutional clients and compete on fees and infrastructure.
Conclusion
Bullish securing a New York BitLicense and Money Transmission License marks a major step in its transition from a public company with limited U.S. services to a regulated platform able to serve institutional clients. With strong compliance signals and competitive fees, Bullish is positioned to pursue market share among U.S. institutional traders; industry observers will watch onboarding and liquidity development closely.
Published by COINOTAG · Updated 2025-09-17
