Bullish agrees to acquire Equiniti for $4.2 billion

NYSE-listed crypto exchange operator Bullish has agreed to a $4.2 billion deal to acquire transfer agent Equiniti. The merger aims to combine blockchain infrastructure with traditional equity market services. Bullish shares rose following the announcement.

Bullish, a crypto exchange operator listed on the New York Stock Exchange, announced a $4.2 billion agreement to acquire Equiniti, a transfer agent serving traditional equity markets. The deal will merge Bullish's blockchain infrastructure with Equiniti's services, enabling tokenized stock trading, as first reported by Decrypt on May 5, 2026. Bullish shares popped in response to the news, reflecting investor optimism about the expansion into tokenized assets. Reports confirmed the acquisition's focus on bridging crypto and traditional finance through tokenization.

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Crypto exchange Bullish has climbed to the third-largest position among centralized exchanges by spot trading volume in February, overtaking Coinbase amid a slowdown in overall market activity. The platform's volume surged 62.6% to $76 billion, securing a 5.06% market share. This shift highlights increasing competition in the sector as trading spreads across more platforms.

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Webull announced its financial results for 2025, showing revenue increases despite some quarterly challenges from marketing costs. The company also partnered with Solidus Labs to enhance digital asset monitoring in the US and Canada. This move supports Webull's expansion into cryptocurrency amid regulatory considerations.

A consortium of major European banks called Qivalis is holding advanced discussions with crypto exchanges and liquidity providers ahead of launching a euro-pegged stablecoin in the second half of 2026. The initiative aims to create a regulated alternative to U.S. dollar stablecoins for blockchain-based payments within the EU. Backed by bank deposits and sovereign bonds, the token seeks to enhance the bloc's autonomy in digital finance.

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The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) signed a memorandum of understanding on March 11, 2026, to enhance coordination on crypto and derivatives oversight. The agreement aims to reduce regulatory overlaps that have driven activity overseas. SEC Chair Paul Atkins acknowledged that past turf wars contributed to the challenges faced by U.S. crypto firms.

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