Coindesk’s parent company, Bullish (BLSH), has secured the coveted Bit Resense by the New York State Department of Financial Services (NYDFS). This is a major regulatory approval that enables the agency’s digital asset platform to provide spot trading and custody services to its New York customers.
Bitlicense, also known as the cryptocurrency business activity license, is considered one of the most stringent state-level cryptographic approvals in the United States.
As a result, Bullish Us Operations LLC, a US company from Bullish, is now able to accommodate country financial capital institutional customers and senior traders.
“New York is widely recognized as at the forefront of cryptocurrency regulations,” Bullish CEO Tom Farley said in the release.
“Received Bit Resense and Money Transmission Licenses from the New York Financial Services Office is a testament to our bullish commitment to regulatory compliance and commitment to building trustworthy institutional digital asset infrastructure in key global markets,” he added.
The licence victory follows the company’s successful initial public offering in August. Following Coinbase (Coin), we mark the second crypto exchange to be published in the US
Bullish is also one of several crypto-born companies that have recently been released under the Trump administration’s more digital assets-friendly regulatory approach. Stablecoin Issuer Circle (CRCL) and Exchange Gemini (Gemi) have also been IPO’d recently.
Bull Exchange President Chris Tyler called the approval a “significant regulatory milestone” and said it would strengthen the company’s credibility with the agency. “We believe that clear regulations will encourage responsible market evolution and institutional engagement,” Tyler said in the release.
Important Catalysts
Milestones will be added to Bullish’s increased regulatory qualification list.
The exchange is currently regulated in the US, Germany, Hong Kong and Gibraltar, combining central restricted order books with automated market productions to establish itself as a venue designed for facility-grade liquidity.
Bitlicense is clearing the path for the Crypto platform to expand in the US. This was pointed out by Wall Street analysts as a key catalyst for the stock.
Investment Bank Canaccord said that with bullish approvals in Europe and Asia, securing Bitlicense will allow access to US institutional customers.
Meanwhile, broker Bernstein said if the platform was successfully launched in the US in 2026, Burches could compete with rivals such as Coinbase.
Investment Bank KBW also said that recent US expansion is a catalyst for bullish growth and that there is a deep liquidity that places it in place to capture the company’s differentiated technology stack, competitive fees and market share.
read more: Bullish acquires a new price target of $55 from KBW, with US entry considered a key catalyst
