Bullish has received $1.15 billion in proceeds from its IPO in the form of a stablecoin.

BlockBeats News, August 19th, according to an official announcement, crypto exchange Bullish has announced that it has arranged to receive the proceeds of its recently completed initial public offering (IPO) in the form of stablecoins totaling $1.15 billion, marking a historic milestone in the use of stablecoins in a U.S. IPO.

The vast majority of the stablecoins were minted on the Solana network for Bullish. Bullish received the following stablecoins denominated in USD and EUR: funds from the IPO, mostly settled in USDC, some settled in EURC, all held in exclusive custody by Coinbase, as well as USDCV, EURCV, USDG, PYUSD, RLUSD, USD1, AUSD, EURAU.