Bullish first centralized exchange to list SoFiUSD

Bullish announced on June 22 that SoFiUSD, the U.S. dollar stablecoin issued by SoFi Bank, N.A., is now available for trading on its exchange. The token is being offered to institutional users on Bullish’s platform.

SoFi introduced SoFiUSD in May for its nearly 15 million customers. The company has described the coin as the first U.S. dollar stablecoin issued by a U.S. national bank. The June 22 listing marks the first time SoFiUSD has appeared on a centralized exchange since its debut.

Bullish said SoFiUSD is fully reserved and redeemable one-to-one for U.S. dollars. On the exchange, the stablecoin trades on a central limit order book that is integrated with Bullish’s automated market-making system.

Bullish explained that the order-book integration with its liquidity infrastructure is intended to maintain liquidity, reduce slippage and support tighter spreads for institutional participants.

Tom Farley, Bullish’s chief executive, called the launch “a milestone for the sector” and added that “regulated institutions are increasingly building products around digital assets rather than observing from the sidelines.”

SoFi’s chief executive, Anthony Noto, noted that the listing broadens access to SoFiUSD and expands its use across the digital asset ecosystem.

Bullish reported about $30 billion in spot trading volume in May 2026. The exchange operates under regulatory approvals that include oversight from the New York State Department of Financial Services, Germany’s BaFin and Hong Kong’s Securities and Futures Commission.

SoFi launched the stablecoin after federal regulators released a framework for payment stablecoins in the United States. The bank says the token complements its banking services and is directly redeemable for U.S. dollars.

The listing places SoFiUSD on a regulated institutional trading venue rather than limiting it to SoFi’s consumer banking app, making the coin accessible through Bullish’s trading infrastructure to institutional counterparties.