Crypto Platform Gains New York's BitLicense Approval, Paves Way for American Digital Currency Trade Operations
Bullish, a digital asset trading platform, is gearing up for a phased rollout of its services targeting U.S. institutions. The company's focus remains steadfast on regulatory compliance, as emphasised by its CEO, Tom Farley, who was formerly the President of the New York Stock Exchange.
Bullish's strategy continues to centre on trusted custody, efficient execution, and a secure trading environment. The company's U.S. operations will focus on regulated, high-performance digital asset trading and custody solutions.
In a significant move, Bullish US Operations LLC has secured the BitLicense and Money Transmission License from the New York State Department of Financial Services (NYDFS). This approval allows Bullish to serve institutional investors and advanced traders in New York, positioning it among the few platforms cleared to operate in the state.
The licenses allow Bullish to offer spot trading and custody services for digital assets within New York. Industry watchers have pointed to New York's tough licensing standards as a bar for compliance-focused exchanges, making Bullish's achievement noteworthy.
The move is part of Bullish's broader expansion strategy. The exchange plans to bring more institutional-grade solutions to its users as it expands into regions where regulation is clearly defined. Bullish's entry into New York aligns with its push to expand in such regions.
The news was shared by Bullish, and the licensing marks one more move in Bullish's plan to build in major markets. The licensing also allows Bullish to bring its trading platform to U.S. soil, a significant step in the company's growth.
With Blair Effron at the helm as the CEO, Bullish is poised to make a strong impact in the U.S. market. The company's focus on liquidity, performance, and compliance is expected to meet the needs of sophisticated traders and institutional investors. As Bullish continues to expand, it will be interesting to see how it shapes the digital asset trading landscape in the U.S. and beyond.
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