Crypto platform bullish (BLSH) won New York Bitlicense, cleaning the path for expanding US
Bullish (Blsh)CoinDesk’s parent company, got a coveted bitlicense from the New York State Department of Financial Services (NYDFS).
Bitlicense, also known as a virtual business activity license, is considered one of the most strict approval of state crypto levels in the US
With this, the Bullish’s entity, bullish US operations LLC, can now serve institutional clients and advanced businessmen in financial capital capital.
“New York is widely recognized as ahead of virtual currency regulation,” said Tom Farley, Bullish’s CEO, on the release.
“Receiving our Bitlicense and Money delivery license from the New York Department of Financial Services is a testament to Bullish’s promise in compliance with regulation and our dedication to developing a trusted, institutional digital asset infrastructure in the major global markets,” he added.
The license win is compliant with the firm The successful initial publication of the public in August. It marked the second crypto exchange, after Coinbase (Coins)to go public in the US
Bullish is also among many crypto-native companies that have recently lost publicly under the more digital approach to the Trump administration’s regulation. Stablecoin Issuer Circle (CRCL) and replace Gemini (Boat) Recently IPO’d.
Chris Tyrer, president of the Bullish Exchange, called the approved “a significant milestone in regulation” and said it strengthened the company’s credibility in institutions. “We believe that clear regulation is driving responsible market evolution and institutional relationships,” Tyrer said of the release.
Key catalyst
Milestone adds to the growing list of bullish regulation credentials.
Today’s exchange is regulated in the US, Germany, Hong Kong and Gibraltar, and position itself as a place designed for grade-institutional liquidity, combining a central book order order with automatic market manufacture.
Bitlicense removes the path for the crypto platform to expand in the US, which Wall Street analysts mentioned As a major catalyst for stock.
The Investment Bank Canaccord said that in a bullish licensed in Europe and Asia, the secure of a bitlicense will open access to US institutional clients.
Meanwhile, broker Bernstein said Bullish could compete with rivals such as Coinbase if the platform successfully launched the US in 2026. “We hope that bullish will gain ~ 8% market sharing at the US Spot Institutional Crypto Volume of 2027E, while the global part of the Mercury remains at ~ 7%” Bernstein’s analysts.
The KBW Investment Bank also said that near the US expansion is a catalyst for growth for bullish, and the diversity of the company’s tech stack, competitive fees and deep liquidity positioning to obtain market sharing.
Read more: Bullish gets a new target price of $ 55 from KBW with the US entry seen as key catalyst
