Bullish Secures New York BitLicense to Offer Crypto Trading and Custody
Bullish’s spot trading launch in 20 U.S. states marks a significant milestone, following its receipt of the BitLicense and Money Transmission License from NYDFS and a $1.5 trillion trading volume.
Summary
Bullish has officially launched spot trading services in the U.S. across 20 states, following its receipt of a BitLicense and Money Transmission License from NYDFS. Since its international debut in 2021, Bullish has processed over $1.5 trillion in trading volume, highlighting its growing role in the crypto market.
Terms & Concepts
- BitLicense: A business license issued by the New York State Department of Financial Services for companies engaging in cryptocurrency activities with New York residents.
- Money Transmission License: A license that permits companies to send and receive money or digital assets as part of their operations.
- Institutional crypto adoption: The growing involvement of institutional investors, such as banks and asset managers, in the cryptocurrency market, often spurred by clearer regulations and market infrastructure.