The financial landscape is witnessing a transformative shift with the growing adoption of blockchain-based infrastructure. Bullish, a cryptocurrency exchange operator, has announced a $4.2 billion agreement to acquire Equiniti, marking a pivotal moment in its expansion into tokenized securities.
The all-stock transaction, which includes the assumption of $1.85 billion in debt, is expected to close in January 2027, subject to regulatory approvals. The deal will give Bullish access to a large and established shareholder recordkeeping business as it expands beyond crypto trading into broader capital markets services.