Bullish IPO raised $1.15 billion in stablecoin subscriptions, marking the first large-scale use of stablecoin for settlement in a US IPO.

According to Techub News, global digital asset platform Bullish (NYSE: BLSH) raised approximately $1.15 billion in its IPO through stablecoin. This is the first large-scale use of stablecoin settlement in a U.S. IPO. The majority of the stablecoins were minted on the Solana network and the minting, exchange, and delivery processes were coordinated by Jefferies. The stablecoins received by Bullish included various dollar and euro-pegged tokens primarily settled in USDC and EURC, with custodial services provided by Coinbase. Bullish CFO David Bonanno stated that stablecoins facilitate fast and secure global fund transfers, demonstrating their capabilities in market infrastructure and liquidity.