Bullish (BLSH), the parent company in Coindesk, has secured a sought after Bitlicense from the New York State Department of Financial Services (Nydfs), a key regulation that will allow the institutional digital active platform to offer spot trading and custody to customers in New York, the company said in a press release on Wednesday.
Bitlicense, also known as a virtual currency business activity license, is considered one of the most strict crypto-approvals at the US level in the United States
With that, Bullish’s US device, Bullish Us Operations LLC, can now accommodate institutional customers and advanced dealers in the country’s economic capital.
“New York is widely recognized as being at the forefront of regulating virtual currency,” said Tom Farley, CEO of Bullish, in release.
“Receipt of our Bitlicense and Money Transfer License from the New York Department of Financial Services is a testimony of Bullish’s obligation to regulatory compliance and our dedication to building trusted, institutional Grade Digital Active Infrastructure in the most important global markets,” he added.
The license victory follows the company’s successful original public offers in August. It marks the second crypto exchange, after coinbase (coin), to become public in the US
Bullish is also among several crypto-native companies that have recently been published under the Trump administration’s more digital asset-friendly regulatory approach. Stablecoin Issuer Circle (CRCL) and Exchange Gemini (Gemi) also recently IPO’D.
Chris Tyrer, president of Bullish Exchange, called the approval “a significant regulatory milestone” and said it strengthens the company’s credibility with institutions. “We believe that clear regulation drives responsible market development and institutional commitment,” Tyrer said in the release.
Key catalyst
The milestone adds Bullish’s growing list of regulatory credentials.
The exchange is now regulated in the United States, Germany, Hong Kong and Gibraltar, and positions itself as a place designed for liquidity in institutional quality, combining a central border order book with automated market production.
Bitlicense clears the path of the Crypto platform to expand in the United States, as Wall Street analysts noticed as a key catalyst for the stock.
Investment Bank Canaccord said that with Bullish license in Europe and Asia, ensuring a bitlicense would be open access to US institutional clients.
Meanwhile, Broker Bernstein said Bullish could compete with rivals such as Coinbase if the platform is successfully launched in the United States by 2026. “We expect Bullish to capture ~ 8% market share in US Spot Institutional Crypto Volumes in 2027e, while the global spot market share will remain at ~ 7%,” “wrote”. ”
Investment Bank KBW also said that US expansion in the short term was a catalyst for Bullish growth, and the company’s differentiated tech stacks, competitive fees and deep liquidity positioning to gain market share.
Read more: Bullish gets a new price target of $ 55 from Kbw with us seen as key catalyst
