Cathie Wood Favorite Bullish (BLSH) Collects $1,150,000,000 in RLUSD, PYUSD and Other Stablecoins in $1,150,000,000 IPO

The Daily Hodl
The Daily Hodl
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Bullish Inc. (NYSE: BLSH), a global digital asset platform catering to institutional clients, announced Tuesday it has received $1.15 billion in proceeds from its initial public offering (IPO), settled entirely in stablecoins.

According to an announcement from the Cathie Wood favored firm, the transaction marks a significant milestone for the use of blockchain-based currencies in U.S. capital markets.

The majority of the stablecoins were minted on the Solana (SOL) blockchain, with Jefferies serving as the billing agent for the offering. Jefferies oversaw the minting, conversion and distribution of the digital assets, coordinating with multiple issuers and platforms across North America, Europe and Asia.

Bullish received a range of US dollar-and euro-denominated stablecoins, including USD CoinVertible and EUR CoinVertible issued by Societe Generale-FORGE, Global Dollar and PayPal USD issued by Paxos, Ripple USD on the XRP Ledger, USD1 from World Liberty Financial,...

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