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Crypto platform Bullish is expanding its stock tokenization services by selecting Solana, Aptos and Ethereum as the project’s first three blockchain networks.
The NYSE-listed firm announced the move on November 3, saying it would give companies more options for issuing digital versions of their shares while allowing investors to access them across different networks.
The firm said the expansion is part of its plan to make it easier for traditional companies to bring their shares onto blockchain networks. Rather than limiting tokenized shares to a single blockchain, Bullish wants businesses to choose the network that best suits their needs. Investors will also be able to access these shares through their preferred networks.
However, official ownership records will remain with the transfer agent.
Bullish demonstrates how share transfers work
The announcement follows a demonstration that Bullish and Equiniti held at the New York Stock Exchange on October 27.
During the event, Bullish CEO Tom Farley and Equiniti CEO Dan Kramer reportedly demonstrated how 61 million reserved Bullish shares could be transferred on Solana.
Equiniti, which provides share administration services, handled the process. The transfer was completed within seconds, demonstrating how blockchain technology can facilitate share transfers without the delays often associated with traditional financial systems.
Farley also demonstrated another feature that companies could use to engage with their shareholders. He showed how businesses could send digital rewards directly to investors’ wallets. During the demonstration, a digital Consensus pass was sent to a shareholder’s wallet.
Bullish plans to make these features available on Aptos and Ethereum as it expands beyond Solana. The company also intends to support additional networks over time.
Why Bullish wants to support more blockchains
Bullish said investors and trading activity are spread across different blockchain networks. Supporting only one network could limit the number of investors companies can reach through tokenized shares.
By adding Aptos and Ethereum, the platform aims to give businesses access to investors who already use those networks. This means companies will not have to rely on a single blockchain when offering digital versions of their shares.
The service is also expected to support round-the-clock trading, faster settlement and programmable corporate actions. These features could help companies manage certain shareholder activities through blockchain technology.
Businesses could also gain real-time visibility into their shareholder base and explore new ways to reward investors.
Equiniti deal supports Bullish’s plans
Bullish’s expansion builds on its agreement to acquire Equiniti from private equity firm Siris in May 2026. The deal is valued at approximately $4.25 billion, including debt, and is expected to bring traditional share administration services into Bullish’s blockchain business.
Equiniti supports nearly 3,000 public companies, handles about $500 billion in annual payments and serves more than 20 million shareholders worldwide.
Combining its services with Bullish’s blockchain technology could allow the company to support different stages of tokenized shares, from issuance to trading and ownership records.
However, the acquisition is still waiting for regulatory approval and other closing conditions.
Bullish has already tokenized its own shares
Before announcing the three network partners, Bullish had already placed its entire equity ownership structure on Solana. It became the first NYSE-listed company to fully tokenize its own shares. Its tokenized BLSH shares also began trading on Bullish Exchange.
Bullish and Equiniti have also established the Issuer Sponsored Token Coalition, an industry group working to promote a system that allows companies to tokenize their shares while maintaining control over their shareholder relationships.
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