Bullish to buy transfer agent Equiniti for $4.2B in tokenization push

Bullish has agreed to acquire transfer agent Equiniti as more Wall Street participants accelerate their tokenization initiatives to offer 24/7 trading.

Bullish agreed to acquire transfer agent Equiniti from Siris Capital in a $4.2 billion transaction, giving the crypto exchange a major shareholder recordkeeping business as it pushes deeper into tokenized securities.

As part of the deal, Bullish will assume $1.85 billion in debt from Equiniti, according to a Tuesday announcement. The transaction is expected to close in January 2027, pending regulatory approval.

The acquisition will allow Bullish to offer 24/7 trading of tokenized securities and stablecoin-based payment and settlement tools. Equiniti is one of the world’s largest transfer agents, servicing nearly 3,000 companies, including the likes of Berkshire Hathaway and Rolls-Royce. Transfer agents are crucial for trading venues, as they are responsible for investor records, issuing ownership certificates and facilitating dividend payments.

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