Bullish, the crypto platform and owner of CoinDesk, has made history by receiving $1.15 billion from its IPO entirely in stablecoins, marking a first for U.S. public markets. The settlement involved dollar- and euro-pegged tokens, including USDC from Circle, along with others from Paxos, PayPal, Ripple, and Societe Generale. Most tokens were on the Solana network, with Coinbase appointed as the custodian. The arrangement emphasizes the increasing integration of stablecoins into global payment systems and their growing acceptance amid regulatory developments. Bullish's CFO articulated the transformative potential of stablecoins in digital transactions. Additionally, Jefferies managed the minting and delivery process of these stablecoins, highlighting a trend towards blockchain technology becoming more embedded in traditional finance.

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