Overview

• The U.S. debut follows NYDFS BitLicense and money-transmission approvals secured in September.
• Access begins in 20 jurisdictions including New York, California, Florida, Washington, D.C., and Wyoming, with additional states planned.
• The exchange targets institutional clients and advanced traders, with support from partners BitGo and Nonco.
• Bullish promotes a hybrid central limit order book plus automated market maker design and full-reserve custody to improve execution and liquidity.
• U.S. pricing features zero maker fees for institutions and zero trading fees for individuals, as the company points to $1.5 trillion in cumulative volume and a recent NYSE listing with shares above the IPO price.