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Bullish received $1.15 billion in IPO proceeds in the form of stablecoin.
On August 19, according to an official announcement, the cryptocurrency trading platform Bullish announced that it has arranged to receive funds of $1.15 billion from its recently completed IPO in the form of stablecoins, marking a historic step in the use of stablecoins in US IPOs. The vast majority of stablecoins were minted for Bullish on the Solana network. Bullish received the following stablecoins denominated in USD and EUR: funds from the IPO, most of which were settled in USDC, with some settled in EURC, all exclusively custodied by CEX, as well as USDCV, EURCV, USDG, PYUSD, RLUSD, USD1, AUSD, EURAU.