Digital asset platform Bullish has officially launched spot trading in the United States, with initial support for 20 states.
Summary
- Bullish has launched spot trading in the U.S., with initial accessibility in 20 states.
- The platform recently secured a BitLicense from the New York Department of Financial Services.
- Launch also comes not long after the exchange went public.
Bullish made its debut in the U.S. a few weeks after the institution-focused crypto platform secured both the BitLicense and money transmission licenses from the New York State Department of Financial Services.
The 20 U.S. states in which the exchange is currently offering spot trading to customers include New York, California, Florida, Washington, D.C., and Wyoming. Bullish said in a press release on Oct. 1 that future plans include expansion across more states.
What does this mean for Bullish?
By going live in the U.S., the crypto exchange is marking yet another milestone in its growth trajectory.
The platform has operated since 2021, and has ranked among top 10 crypto exchanges by volume for Bitcoin (BTC) and Ethereum (ETH). Its cumulative trading volume has surpassed $1.5 trillion.
The launch in the U.S. also comes a few weeks after the trading platform went public, with its stock listing on the New York Stock Exchange in August.
U.S. institutions “deserve better”
According to details the company shared on Wednesday, the U.S. expansion has the support of BitGo and Nonco, among other institutional clients. The support will allow Bullish to extend its services to institutions such as hedge funds, market makers, fintechs, high-frequency traders, neobanks, and proprietary trading firms. It will also expand to advanced traders in the future.
“U.S. institutions deserve better execution, deeper liquidity, and platforms built for the unique demands of their respective strategies,” said Chris Tyrer, president of Bullish.
The institution-focused platform’s trading infrastructure offers a hybrid model that combines a central limit order book and automated market making. Bullish sees this combination of a CLOB and AMM as key to ensuring stability in terms of liquidity and trade execution.
“Our U.S. launch introduces a platform that we believe combines institutional-grade liquidity, cutting-edge technology, and cost efficiency to empower institutions and, for the first time, advanced individual traders,” Tyrer added.
U.S. users will benefit from features such as zero maker fees for institutional accounts and zero trading fees for individual accounts. Its launch adds to the top regulated exchanges operating in the U.S., a market led by Coinbase.
