PANews reported on August 19 that Bullish (NYSE: BLSH) announced that it raised US$1.15 billion through its recently completed initial public offering (IPO), and received the funds in the form of stablecoins.

This marks a historic use of stablecoins in a US IPO. The majority of stablecoins, primarily USDC and EURC, are minted on the Solana network, with funds held in custodianship by Coinbase. Bullish's CFO stated that the company leverages stablecoins to enable fast and secure global fund transfers and drive related business development. Bullish's shares officially listed on the New York Stock Exchange on August 14, 2025, under the ticker symbol "BLSH."