Bullish has received approval from the Gibraltar Financial Services Commission (GFSC) to offer trading in tokenized securities, giving the exchange a regulated route into blockchain-based financial markets.
The approval places Bullish among the first regulated venues allowed to support issuer-sponsored tokenized securities under Gibraltar’s distributed ledger technology framework. The company said the decision follows work with the GFSC that began in 2025 as both sides worked on rules for digital asset market systems.
Tokenized securities are digital versions of traditional assets such as shares or funds that are recorded on blockchain networks. Bullish said its service will be available to eligible non-US investors under regulatory oversight. The company also pointed to faster settlement, round-the-clock trading, and easier transfer of ownership as some of the possible benefits.
Bullish has received Gibraltar Financial Services Commission approval to offer trading in tokenized securities.
This approval positions Bullish among the first regulated venues to offer trading in issuer-sponsored tokenized securities.
Read more 👇https://t.co/KbPEjKoznv
— Bullish (@Bullish) June 29, 2026
Gibraltar gives Bullish a clear route into tokenized securities
For Bullish, the approval means it can bring tokenized securities into a regulated market instead of offering them through a setup where the rules may be less clear. Gibraltar has created a legal framework for businesses using distributed ledger technology. That framework gives firms a way to provide blockchain-based financial services while meeting requirements set by regulators.
This could matter as more financial companies look at putting traditional assets on blockchains. The technology itself is not enough. Investors also need to know who owns an asset, who keeps the official records, who can trade it, and what happens if something goes wrong.
Regulation helps answer some of those questions. It also puts limits on who can access the products and what companies can offer. Bullish will therefore need to balance the wider access that blockchain trading can provide with the investor and compliance rules attached to the service.
Bullish said tokenized securities trading is expected to begin in the coming weeks, subject to final approval steps.
ALSO READ: Shinhan Tests Korean Won Tokenized Fund on Solana
Bullish is building more than an exchange
The Gibraltar approval also fits into Bullish’s plans to build more of the infrastructure behind financial markets.
The company’s planned purchase of Equiniti is a major part of that plan. Equiniti keeps shareholder records for thousands of issuers. If the acquisition is completed, Bullish could connect the creation of securities, ownership records, and trading more closely than a traditional crypto exchange normally does.
That could reduce the number of separate systems involved in a transaction. Today, buying a traditional security can involve an exchange, broker, clearing system, settlement system, and shareholder record keeper. Tokenization could bring some of these functions closer together, although the legal and financial responsibilities would still need to be handled.
This is where Bullish’s approach could become more interesting. Rather than simply listing tokenized versions of existing assets, the company is trying to build systems that connect the asset itself with its ownership record and trading activity.
Still, there are practical questions. Investors will want to know which assets are available, how much liquidity they have, what fees apply, and whether the tokens provide the same rights as conventional securities.
The Hong Kong approval adds to Bullish’s expansion
Gibraltar is also not the only market where Bullish has been building its regulated business. The company has secured regulatory approval from the Hong Kong Securities and Futures Commission (SFC).
Bullish HK Markets Limited, the company’s Hong Kong subsidiary, received Type 1 and Type 7 licenses. These cover dealing in securities and automated trading services. The subsidiary also received approval to operate a Virtual Asset Trading Platform.
The two approvals show Bullish is working to build regulated operations in different financial markets. Gibraltar gives the company a base for tokenized securities, while Hong Kong gives it access to a regulated virtual asset market.
The bigger test will be whether investors and issuers actually use these products. Tokenization can make trading and settlement easier, but that does not automatically create demand or liquidity.
For issuers, the appeal could be access to a market that operates outside normal trading hours. For investors, the appeal could come from easier transfers and faster settlement. But both sides still need enough market activity for the system to work well.
Bullish’s Gibraltar approval therefore moves tokenized securities from a regulatory plan toward an actual trading service. How many assets are listed and how much trading they attract will help show whether there is real demand for the model.
Enjoyed this? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads, and CoinMarketCap Community for seamless access to high-quality industry insights
Take control of your crypto portfolio with DEFI PLANET PRO, DeFi Planet’s suite of analytics tools.
