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Bullish Scores New York BitLicense

The Peter Thiel-backed firm scores regulatory approval for spot trading and custody services in New York.
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Sep 17, 2025 • 1 min read

Crypto exchange and infrastructure provider Bullish announced Wednesday that it has secured both a BitLicense and Money Transmission License from the New York State Department of Financial Services – a major regulatory milestone as it prepares to expand its U.S. footprint.

What’s the Scoop?

  • Licensed in New York: The approval allows Bullish to offer crypto spot trading and custody services to institutions and advanced traders in New York State, one of the most heavily regulated crypto jurisdictions.
  • Building U.S. Momentum: The company described the move as foundational to a broader U.S. launch planned for 2026, as it positions itself as a top institutional-grade platform.
  • Leadership Speaks: CEO Tom Farley, former NYSE President, emphasized Bullish’s “commitment to regulatory compliance” and its ambition to contribute to New York’s financial ecosystem.
  • Public Market Context: Backed by Peter Thiel, Bullish raised $1.1B through its NYSE IPO in August, with shares initially soaring over 150% before stabilizing around $51.36. Bernstein analysts recently set a $60 price target, predicting Bullish could become the #2 institutional exchange after Coinbase.

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