Bullish Exchange (NYSE: BLSH) announced that SoFiUSD, a U.S. dollar payment stablecoin issued by SoFi Bank, N.A. (NASDAQ: SOFI), is now available for trading on its platform. This move positions Bullish as the first centralized cryptocurrency exchange to list the token, extending its reach beyond SoFi’s consumer banking app into institutional digital asset markets.
SoFiUSD represents a key step in blending traditional banking with blockchain technology. Issued by a U.S. national bank, it stands out as the first stablecoin of its kind from such an entity.
The token maintains a one-to-one peg to the U.S. dollar and is fully backed by reserves, allowing holders to redeem it directly for fiat currency.
SoFi introduced SoFiUSD to its nearly 15 million members in May 2026, shifting the product from enterprise-focused infrastructure toward broader everyday use in consumer banking.
The listing occurs against the backdrop of the GENIUS Act, enacted in 2025.
This legislation created the first comprehensive federal framework for U.S. dollar payment stablecoins, enabling regulated banks and qualified issuers to bring digital dollars to market under clear oversight and reserve requirements.
Institutional-grade liquidity and trading infrastructureBullish’s central limit order book, combined with its proprietary automated market maker, powers the trading experience.
This setup generates numerous bids and offers from the platform’s own liquidity sources, helping minimize price slippage and maintain tight spreads even during volatile periods.
The system operates independently of external oracles, supporting consistent depth across different market conditions.
Institutional clients gain access to a regulated venue where customer assets are held in a 1:1 ratio and kept fully segregated from the exchange’s own holdings.
Bullish maintains proper hardware, software, and operational protections to safeguard funds.
In May 2026 alone, the platform recorded $30 billion in total spot trading volume, underscoring its capacity to handle significant activity.
Bullish CEO Tom Farley called the development a defining moment for the broader market.
He noted that regulated institutions are moving beyond observation and actively building within the digital asset space, expressing pride in partnering with SoFi to become the first exchange to offer SoFiUSD.
SoFi CEO Anthony Noto highlighted the launch of SoFiUSD as providing users with a trusted method to engage with digital dollars backed by the strength and regulatory oversight of a US national bank.
He described the Bullish listing as an exciting milestone that broadens access and expands the token’s utility across the digital asset ecosystem.
Noto expressed enthusiasm for continued collaboration to increase availability of regulated and transparent stablecoins for both institutional partners and SoFi members.
Eligible institutional customers interested in trading SoFiUSD on Bullish can reach out to sales@bullish.com for onboarding.
The token trades on the exchange’s high-performance matching engine.This development marks Bullish as SoFi’s first centralized exchange partner.
It facilitates smoother integration between established financial institutions and on-chain markets, potentially improving price stability and execution efficiency for larger trades.
Bullish itself operates under multiple regulatory licenses and registrations, including oversight from the New York State Department of Financial Services, Germany’s BaFin, Hong Kong’s Securities and Futures Commission, and Gibraltar’s Financial Services Commission.
In the U.S., its operations fall under NYDFS regulation and FinCEN registration as a money services business.
By bringing a bank-issued stablecoin to a professionally oriented trading venue, the listing underscores growing convergence between traditional finance and digital assets.
It offers institutions a new option for holding and transacting in a regulated, fully reserved dollar equivalent while leveraging blockchain’s efficiency. As adoption of such instruments expands under clearer regulatory guardrails, platforms like Bullish are positioned to play a central role in bridging these ecosystems.
