Bullish IPO raises $1.15 billion to issue stablecoin

Bullish (NYSE: BLSH) announced that it raised $1.15 billion in its recently completed initial public offering (IPO), all in the form of stablecoins. This marks a historic use of stablecoins in a US IPO. The majority of these stablecoins, primarily USDC and EURC, were minted on the Solana network, with funds held in custodianship by Coinbase. Bullish's CFO stated that the company leverages stablecoins to enable fast and secure global money transfers and drive related business development. Bullish's shares officially listed on the New York Stock Exchange on August 14, 2025, under the ticker symbol "BLSH."