Bullish exchange moves core infrastructure to Solana
Solana gains Bullish as major crypto exchange shifts core systems
Bullish, the crypto exchange backed by Peter Thiel, is migrating its core infrastructure to Solana’s native stablecoin ecosystem.
Bullish, an institutionally focused digital asset exchange with a cumulative trading volume exceeding $1.4 trillion, has announced the migration of its trading, custody, and settlement infrastructure to Solana — a high-performance blockchain network renowned for its low-latency transaction processing and robust stablecoin ecosystem.
The exchange will now handle custody, trading, clearing, and payments using Solana-based stablecoins, marking one of the most significant institutional shifts toward blockchain infrastructure to date.
The announcement was made jointly by Bullish and the Solana Foundation on Wednesday. Solana described the move as a clear sign that “TradFi and DeFi continue to converge.”
“We’re excited to partner with the Solana Foundation,” said Bullish CEO Tom Farley. “We believe Solana has proven itself as a next-generation financial infrastructure platform — fast, efficient, and ready for institutional scale.”
Bullish will use Solana to power exchange operations and fuel future innovation in digital asset product development.
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With licenses in Hong Kong, Germany, and Gibraltar, Bullish is one of the few global digital asset exchanges operating under transparent regulatory frameworks across both Asia and Europe.
The company is also known for utilizing a deterministic liquidity protocol and an automated market maker (AMM) model optimized for institutional flow.
In Q1 2025, Bullish reported an average daily trading volume of over $2.5 billion, positioning it as a leading venue for institutional asset flows. The adoption of Solana-based settlement infrastructure is expected to reduce latency, accelerate clearing, and lower fees for clients transacting in stablecoins or tokenized assets.
TradFi and DeFi are converging
Bullish’s decision to integrate with Solana reflects a broader strategy of positioning institutions at the intersection of centralized and decentralized finance.
For Solana, this partnership adds to a growing list of enterprise integrations in recent months. Earlier this year, U.S. fintech giant Fiserv launched pilot programs testing Solana for real-time cross-border payments. In Europe, blockchain consortium R3 — backed by major banks — selected Solana to power a regulated settlement layer for tokenized securities.
As we wrote, First Solana ETF: Could the launch mark the beginning of an altcoin ETF season?
