Bullish, a big name in digital asset infrastructure, has received an important approval from the New York State Department of Financial Services. This move clears the way for the company to start operating in the United States. The announcement came on September 17, 2025, not long after the company had gone public with its stock listing.
The license Bullish received is known as the BitLicense. This license has been part of New York’s rulebook for digital assets since 2015. It was created to protect customers and also to encourage new ideas in the crypto space. Along with the BitLicense, Bullish also secured a Money Transmission License. Together, these approvals allow Bullish to legally provide cryptocurrency trading and custody services in New York, especially to large institutions and advanced traders.
This puts Bullish in the same group as companies like Gemini and Paxos, which are already well-established in the state. It also suggests that the US is slowly becoming more open toward crypto businesses after years of tight regulations. For Bullish, this is a chance to connect with banks, hedge funds, and asset managers who are interested in digital assets but want to avoid regulatory trouble. Experts believe this could lead to billions of dollars in new trading activity, as New York alone handles more than 40 percent of global hedge fund assets.
The company’s US expansion is being led by Thomas Farley, the CEO of Bullish and the former President of the New York Stock Exchange. His experience on Wall Street gives Bullish strong credibility. Farley called this a major milestone and said that getting both licenses shows Bullish’s serious commitment to following regulations. He also expressed pride in contributing to New York’s financial community.
Bullish has taken a steady and planned approach to growth. Gaining the BitLicense is just the start of its wider US journey. The company is expected to expand services across the country, taking advantage of the more welcoming approach regulators are beginning to show toward crypto. Beyond trading, Bullish also plans to offer tools like data analytics and compliance solutions, with the goal of connecting traditional finance with the growing world of decentralized finance.