Bullish Makes History with IPO Settlement in Stablecoins: Ripple’s RLUSD Leads

The post Bullish Makes History with IPO Settlement in Stablecoins: Ripple’s RLUSD Leads appeared first on Coinpedia Fintech News

Bullish, a digital asset platform, has completed its initial public offering (IPO) in a way that could shape the future of capital markets. Instead of relying only on banks and wires, a large portion of the IPO proceeds was settled using stablecoins, including Ripple’s RLUSD, minted on the XRP Ledger. 

This marks the first-ever public listing to integrate stablecoins directly into the settlement process.

Bullish raised $1.15 billion in its IPO, and much of this sum was delivered in stablecoins. Traditionally, IPO settlements involve only cash and banking intermediaries. 

While the majority of funds were settled in USDC on the Solana network, Ripple’s RLUSD represented a portion of the settlement, making history for the XRP Ledger. Other stablecoins like PayPal’s PYUSD, Paxos’s Global Dollar, and Societe Generale’s Euro-backed tokens were also part of the mix.

Congrats to @Bullish on a successful IPO!