PayPal USD price

Bullish Inc. (NYSE: BLSH), a global digital asset platform catering to institutional clients, announced Tuesday it has received $1.15 billion in proceeds from its initial public offering (IPO), settled entirely in stablecoins. According to an announcement from the Cathie Wood favored firm, the transaction marks a significant milestone for the use of blockchain-based currencies in U.S. capital markets. The majority of the stablecoins were minted on the Solana (SOL) blockchain, with Jefferies serving as the billing agent for the offering. Jefferies oversaw the minting, conversion and distribution of the digital assets, coordinating with multiple issuers and platforms across North America, Europe and Asia. Bullish received a range of US dollar-and euro-denominated stablecoins, including USD CoinVertible and EUR CoinVertible issued by Societe Generale-FORGE, Global Dollar and PayPal USD issued by Paxos, Ripple USD on the XRP Ledger, USD1 from World Liberty Financial, Agora Dollar from Agora, and EURAU from AllUnity. Most of the proceeds were settled in USDC, with a portion in EURC. All assets are being held in custody by Coinbase. Says Bullish CFO David Bonanno, “We view stablecoins as one of the most transformative and widespread use cases for digital assets. Internally, we leverage them for rapid and secure global fund transfers, especially on the Solana network. We believe our collaborations with the stablecoin issuers represented here, including their listings on our Bullish Exchange, demonstrate how the infrastructure and liquidity we’ve built at Bullish helps power their businesses.”Follow us on X, Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix   Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Ormalternative/Sensvector The post Cathie Wood Favorite Bullish (BLSH) Collects $1,150,000,000 in RLUSD, PYUSD and Other Stablecoins in $1,150,000,000 IPO appeared first on The Daily Hodl.

Bullish, the global digital asset platform behind the BLSH stock ticker, has completed a landmark IPO, becoming the first U.S. public company to settle the majority of its offering proceeds in stablecoins. Source: Roundtable The offering, which took place on August 14, raised $1.15 billion — a significant sum for a company bridging traditional finance and the digital asset economy. But what truly set the listing apart was its structure: proceeds were settled using a basket of stablecoins including USDC, EURC, PayPal USD (PYUSD), Ripple USD (RLUSD), and others, all held in custody by Coinbase. Bullish operates a regulated spot and derivatives exchange, offering deep liquidity powered by a combination of automated market making and traditional central order book systems. The company has been pushing boundaries in market infrastructure, and this IPO structure marks a new chapter in crypto-capital markets. Jefferies served as the settlement agent for the offering, which utilized the Solana blockchain to mint and record the tokens. According to Bullish, the approach significantly reduced settlement times, improved transparency, and allowed global capital access to the deal. NEW YORK, NEW YORK - AUGUST 13: Tom Farley, CEO of Bullish, (C) celebrates after ringing the opening bell at the New York Stock Exchange during morning trading on August 13, 2025 in New York City. Farley rang the opening bell to celebrate the company's Initial Public Offering. The cryptocurrency exchange priced its IPO at $37 per share, above the expected range of $32 to $33, giving it a total market value of $5.4 billion. (Photo by Michael M. Santiago/Getty Images) Bullish leans into stablecoin infrastructure The company says its use of stablecoins in the IPO was not simply a gimmick but a meaningful statement on the future of financial infrastructure. "We view stablecoins as one of the most transformative and widespread use cases for digital assets,” said Bullish CFO David Bonanno. He added that the firm already uses stablecoins to power fast, secure international transfers, and hopes the IPO structure will create a broader blueprint for others in the space. Related: What is Crypto? Cryptocurrency explained The company’s move aligns with rising institutional interest in blockchain-native capital markets. Lily Liu, President of the Solana Foundation, called the IPO a turning point: “Internet Capital Markets enable capital to move faster, with greater transparency, and in a globally accessible manner." Greg Tusar, VP of Institutional Products at Coinbase, noted that the GENIUS Act, which provides regulatory clarity for stablecoins, had laid the groundwork for such innovation. “The rulebook has changed — and companies like Bullish are showing us what the new normal can look like.” Bullish shares dip The majority of tokens were minted on the Solana network, with Jefferies acting as agent with respect to billing and delivery, as per the press release. On August 20, BLSH shares declined more than 6% to $59.51 — down from their IPO price of $61.56. The stock dipped as low as $57.92 during intraday trading before recovering slightly. While the dip might seem modest, it points to broader market uncertainty around crypto firms that use innovative structures. Analysts suggest some investors may be taking a wait-and-see approach to how the stablecoin-settled offering holds up under scrutiny from regulators and market participants alike.