Bullish (BLSH.US) has been approved to offer digital asset spot trading and custody services in New York.

Silicon Valley investor and billionaire Peter Thiel-backed digital asset exchange operator Bullish (BLSH.US) has announced that its US subsidiary, Bullish US Operations, has been granted approval to offer digital asset spot trading and custody services in the state of New York, with a license type called the "Virtual Currency Business Activity License." The company stated that the BitLicense and Money Transmission License issued by the New York Department of Financial Services are another key step in expanding its global compliance and regulatory framework. Bullish went public last month on the New York Stock Exchange, making it one of the most anticipated IPOs of the year. The company had previously stated that it had arranged to receive $1.15 billion in proceeds from the offering, in the form of stablecoins. The cryptocurrency exchange is expected to release its first quarterly earnings report since going public today. Analysts predict that the company will generate $55.75 million in revenue in the second quarter of 2025, with an expected loss of $0.05 per share.