Crypto platform Bullish to buy transfer agent Equiniti for $4.25 billion, building tokenized securities infrastructure

Crypto platform Bullish has agreed to acquire Equiniti, a regulated transfer agent and shareholder services firm, for $4.25 billion. This acquisition aims to integrate core traditional market infrastructure into Bullish's digital asset platform, significantly expanding its capabilities in tokenized securities. Equiniti, which manages records for over 2,500 companies and 20 million shareholders, will enable Bullish to offer an end-to-end platform for token design, issuance, compliance, registry, and secondary trading. Bullish CEO Tom Farley stated that this move is crucial for the broad institutional adoption of tokenization, providing the necessary end-to-end services, a unified ledger, and issuer relationships. The deal occurs amidst a broader trend of consolidation in the crypto industry, with firms acquiring regulated financial infrastructure to build comprehensive platforms. This acquisition, one of the largest crypto-linked deals, positions Bullish to bridge traditional equity infrastructure with blockchain technology, facilitating features like real-time cap table visibility and faster settlement for tokenized shares. The transaction is expected to close in early 2027, pending regulatory approvals.

(Source：CoinDesk)