Bullish: $1.15 billion from IPO, paid in stablecoins

Bullish, a New York Stock Exchange-listed digital asset exchange, has officially announced that it has received $1.15 billion in proceeds from its recently completed cryptocurrency initial public offering, paid in stablecoins. Bullish said that the vast majority of stablecoins are minted on the Solana network, and investment bank Jefferies, as the settlement and delivery agent for the IPO, coordinated the stablecoin minting, conversion, and delivery process, and worked closely with numerous issuers and platforms in the United States, Europe, and Asia. Most of the proceeds from the IPO were settled in USDC, and some were settled in EURC, which was exclusively hosted by Coinbase.