$SOL

Bullish is migrating its entire trading, custody, and settlement infrastructure to Solana

Bullish, the institutionally-focused digital asset exchange with over $1.4 trillion in cumulative trading volume, has announced a migration of its core infrastructure to Solana, the high-performance blockchain network known for its low-latency transaction processing and stablecoin ecosystem.

The exchange will begin powering custody, trading, settlement, and payment operations using Solana-native stablecoins, marking one of the most significant institutional shifts toward blockchain-native infrastructure to date.

The announcement was made jointly by Bullish and the Solana Foundation on Wednesday, with Solana calling the move a sign that “TradFi and DeFi continue to converge.”

Solana as the settlement layer for Bullish

Bullish’s decision to integrate with Solana reflects a broader strategy to position itself at the intersection of centralized and decentralized finance. The company, which ranks among the top five exchanges for Bitcoin and Ether spot volumes, said it will now prioritize Solana-native stablecoins for all transaction types across its trading stack.

“We’re excited to collaborate with the Solana Foundation,” said Tom Farley, CEO of Bullish, in a statement. “We believe that Solana has proven itself as rails for next-generation financial infrastructure, fast, efficient, and ready for institutional scale.”

The migration is more than symbolic. Bullish will leverage Solana to handle exchange operations and future innovations in digital asset product design.

CoinDesk Data, part of the Bullish Group, will expand coverage of Solana-based tokens and stablecoins in tandem, supporting data infrastructure for the growing intersection of centralized exchanges (CeFi) and decentralized platforms (DeFi).

Regulatory footprint meets open networks

Unlike many crypto-native exchanges, Bullish has positioned itself squarely within the regulatory perimeter. The firm holds licenses in Hong Kong, Germany, and Gibraltar