Overview

• bullish disclosed on Aug. 19 that it received the full $1.15 billion in IPO proceeds in a diversified basket of dollar- and euro-pegged stablecoins.
• most of the tokens were minted on the solana network, with the majority of settlement in circle’s usdc and a portion in eurc.
• the basket also included paypal’s pyusd, ripple’s rlusd on the xrp ledger, paxos’ usdg, societe generale‑forge’s usdcv and eurcv, world liberty financial’s usd1, agora’s ausd, and allunity’s eurau.
• jefferies served as billing and delivery agent, coordinating stablecoin minting, conversion, and on-chain transfers across regions.
• after conversion, the funds were moved into coinbase’s custody, following bullish’s aug. 14 nyse debut at $37 per share.