📅 August 19 | New York, USA
An unprecedented move has just made financial history: Bullish, the crypto exchange founded by media mogul Richard Li, closed its Initial Public Offering (IPO) for $1.15 billion using stablecoins instead of traditional fiat money.
What seemed impossible on Wall Street—using stablecoins for a stock market transaction of this magnitude—is now a reality. And the impact on the financial system promises to be profound.
📖 Bullish completed the financial closing of its IPO on the New York Stock Exchange through stablecoin settlement. This is the first time that a cryptocurrency exchange listed on a US exchange has used stablecoins to move more than $1 billion in a public offering transaction.
The exact amount was $1.15 billion, which marks not only a milestone for Bullish but also a precedent for the entire capital ecosystem in the US. According to the data revealed, the settlement was carried out efficiently and transparently, eliminating several intermediate clearing steps that traditionally slow down and make these types of transactions more expensive in traditional markets.
Bullish, which debuted on the NYSE with a strong appreciation of its shares (exceeding its initial IPO price by more than 150% last week), seeks to establish itself as the bridge between crypto infrastructure and institutional markets. The decision to use stablecoins in this process was no coincidence: the exchange wants to demonstrate that digital assets can streamline multi-million-dollar transactions with security and speed, even in top-tier stock market transactions.
Industry experts consider this a turning point: until now, stablecoins have been viewed primarily as tools for exchange trading, peer-to-peer payments, or liquidity in DeFi. But with this move, Bullish demonstrated that they can be integrated into the heart of the global financial system.
The case is already generating debate among regulators, who are analyzing whether this practice could extend to future IPOs and corporate debt issuances. If stablecoins manage to gain ground in the capital markets, a structural transformation on Wall Street could be underway, where the digitalization of money becomes the norm rather than the exception.
Topic opinion:
A reality check for Wall Street. We're no longer talking about future promises, but about facts: a multi-million-dollar IPO was settled entirely in stablecoins. This will open the eyes of banks, funds, and governments: stablecoins are not an experiment; they are real financial infrastructure that can compete with the traditional system.
💬 Do you think future IPOs will follow Bullish's path by using stablecoins?
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