TLDR:
- Bullish secures a New York BitLicense and Money Transmission License from NYDFS for crypto trading and custody.
- The approval allows Bullish to serve institutional investors and advanced traders in New York with spot trading services.
- CEO Tom Farley calls the license a key step in building trusted, institutional-grade crypto infrastructure in major markets.
- Bullish’s U.S. operations will focus on regulated, high-performance digital asset trading and custody solutions.
New York is opening its doors to another crypto exchange. Bullish has secured regulatory clearance that lets it bring its trading platform to U.S. soil.
The exchange says the move is part of its broader expansion strategy. Institutional clients and advanced traders in the state will soon access its digital asset trading and custody services. The step marks one more move in the company’s plan to build in major markets.
Bullish Secures BitLicense from NYDFS
Bullish announced that its U.S. arm, Bullish US Operations LLC, received a BitLicense and Money Transmission License from the New York State Department of Financial Services.
The exchange shared the news on X, saying this milestone expands its global regulatory footprint.
1/2 We are proud to announce that Bullish has been granted a BitLicense and Money Transmission License by the New York State Department of Financial Services (NYDFS).
Read more 👇https://t.co/GezSTW2XUJ pic.twitter.com/x2dEEJyjrJ
— Bullish (@Bullish) September 17, 2025
The license allows Bullish to offer spot trading and custody services for digital assets within New York. NYDFS defines the authorization as a Virtual Currency Business Activity License.
Tom Farley, Bullish CEO and former president of the New York Stock Exchange, said the approval reflects the company’s focus on regulatory compliance. He stated that Bullish aims to provide institutional-grade infrastructure in key markets and sees New York as a crucial financial hub.
Chris Tyrer, President of Bullish Exchange, said clear regulation supports healthy market growth and greater institutional participation. He added that the exchange looks forward to serving New York-based traders with its regulated platform.
Expansion Plans for Institutional Crypto Services
With the regulatory hurdle cleared, Bullish is preparing for a phased rollout of services targeting U.S. institutions. The company says it will focus on liquidity, performance, and compliance to meet the needs of sophisticated traders.
Its entry into New York aligns with its push to expand in regions where regulation is clearly defined. Bullish’s strategy continues to center on trusted custody, efficient execution, and a secure trading environment.
Industry watchers have pointed to New York’s tough licensing standards as a bar for compliance-focused exchanges. Bullish’s approval positions it among the few platforms cleared to operate in the state.
The exchange plans to build on this momentum and bring more institutional-grade solutions to its users. Its U.S. operations will serve as a key piece in that roadmap.