The crypto exchange Bullish has shaken up Wall Street norms by completing its New York Stock Exchange debut with a twist — all $1.15 billion in IPO proceeds arrived in stablecoins instead of cash.
Rather than relying on traditional settlement channels, the funds were delivered in a basket of digital assets led by USDC and EURC, with portions handled in Ripple’s RLUSD and other institution-backed stablecoins.
Most of the minting and transfers were routed through the Solana blockchain, while Coinbase stepped in as custodian for the major allocations.
This marks the first time a U.S. IPO has been entirely settled on-chain, signaling how quickly tokenized finance is slipping into mainstream corporate playbooks.
Ripple applauded the development, calling it a precedent-setting step that puts stablecoins at the heart of public listings.
Coinbase added that the transaction showed why stablecoins are “faster, cheaper, and more global” than the old model.
For Bullish, the milestone doubles as a marketing victory. Backed by Peter Thiel, the exchange has turned its listing into a showcase of stablecoins’ real-world utility — and in doing so, may have opened the door for other IPOs to follow suit.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/wall-street-just-witnessed-its-first-ipo-paid-entirely-in-stablecoins/