Bullish Secures BitLicense, Expands Institutional Crypto Services in New York

Bullish, the parent company of CoinDesk, has obtained a BitLicense from the New York State Department of Financial Services, marking a pivotal step in its U.S. expansion strategy. The license enables Bullish U.S. Operations LLC to offer spot trading and custody services to institutional clients in one of the most rigorously regulated markets.

CEO Tom Farley framed the approval as a validation of the platform's compliance-first approach: "Receiving our BitLicense and Money Transmission License underscores Bullish's commitment to building trusted infrastructure for digital assets." The move signals growing institutionalization of crypto markets, with regulated entities gaining competitive advantage.

The development follows Bullish's strong public market debut, where shares more than doubled—a vote of confidence in its hybrid model combining exchange technology with institutional-grade oversight. New York's approval effectively creates a blueprint for other states evaluating crypto frameworks.