The Crypto Platform Bullish (BLSH)The owner of Coindesk said it received $ 1.15 billion in revenue from his original public offering in StableCecoins, which was the first for US public markets.
Most of the tokens were marked by Solana
network and predominantly wound up in USDC (USDC)the US dollar stableecoin issued by Circle (CRCL)With Coinbase serving as a custodian, the company said in a press release on Tuesday.
The rest of the proceeds were settled with a number of dollar and euro-pegged tokens: Circle’s EURC, Paypal’s Pyusd, Ripple’s RLUSD on XRP Ledger, Paxos’ USDG, Societe General’s USDCV and EURCV, World Liberty Financials USD1, Agoras Ausd and Allunity’s Eurau. Jefferies Managed Mint, Conversion and Delivery of StableCecoins.
Bullish debuted at the New York Stock Exchange last week.
The move highlights the growing role of stableecoins, crypto -tokens with prices rooted in external assets such as Fiat currency as blockchain -adoption accelerates in payment flows globally. SE CTOREN is also becoming more and more embedded in traditional funding, where countries such as the United States adopt rules under the Genius Act last month to regulate the sector. Earlier this year, Binance also chose to receive a $ 2 billion investment from Abu Dhabi Fund MGX in World Liberty’s USD1 StableCoin.
“We consider stableecoins as one of the most transformative and widespread use cases for digital assets,” David Bonanno, CFO of Bullish, said in a statement. “Internally, we utilize them for fast and secure global fund transfers, especially on the Solana network.”
Read more: Wyoming State is debuting US Dollar StableCoin on seven blockchains
