Bullish acquires Equiniti for $4.2B to bring tokenized securities to 3,000 public companies.

Crypto exchange Bullish has agreed to acquire Equiniti, a global transfer agent serving nearly 3,000 public companies — including Berkshire Hathaway and Moody's — in a deal valued at approximately $4.2 billion including debt, per the Wall Street Journal.

Post-close, the combined entity plans to offer corporate issuers end-to-end tokenization services: 24/7 securities trading alongside stablecoin-based payment and settlement infrastructure. That stack would let publicly listed firms issue, trade, and settle equity on-chain without leaving a single integrated platform.

The transaction is expected to close in January 2027, pending regulatory approvals. At $4.2 billion, it ranks among the largest acquisitions by a crypto-native firm targeting traditional capital markets infrastructure.