Bullish has become the first centralized exchange to list SoFiUSD, extending the reach of SoFi’s bank-issued stablecoin beyond its consumer banking platform into institutional digital asset markets.
The exchange announced on June 22 that SoFiUSD is now live for trading on Bullish Exchange. The stablecoin, issued by SoFi Bank, N.A., is described as the first U.S. dollar stablecoin issued by a U.S. national bank.
The listing marks the first time SoFiUSD has become available on a centralized exchange since its launch in May, when SoFi introduced the stablecoin to its nearly 15 million members.
SoFiUSD expands beyond SoFi’s banking ecosystem
SoFi launched SoFiUSD as part of its broader digital asset strategy following the introduction of a federal framework for payment stablecoins in the United States.
According to Bullish, the stablecoin is fully reserved and redeemable on a one-to-one basis for U.S. dollars. The exchange said the listing helps bring SoFiUSD to institutional markets by providing access through a regulated trading venue with dedicated liquidity infrastructure.
Tom Farley, CEO of Bullish, described the launch as a milestone for the sector, stating that regulated institutions are increasingly building products around digital assets rather than observing from the sidelines.
Bullish targets institutional stablecoin trading
SoFiUSD trades on Bullish’s central limit order book, which is integrated with the exchange’s proprietary automated market-making system. The company said the structure is designed to maintain liquidity, reduce slippage, and support tighter spreads for institutional participants.
The exchange reported approximately $30 billion in spot trading volume during May 2026 and operates under multiple regulatory approvals, including oversight from the New York State Department of Financial Services, Germany’s BaFin, and Hong Kong’s Securities and Futures Commission.
Anthony Noto, CEO of SoFi, said the listing broadens access to SoFiUSD and expands its use across the digital asset ecosystem.
The development comes as bank-issued stablecoins begin moving beyond proprietary banking platforms and into broader digital asset trading venues. This could potentially increase their accessibility to institutional market participants.
Final Summary
- Bullish has become the first centralized exchange to list SoFiUSD, the stablecoin issued by SoFi Bank.
- The listing expands SoFiUSD’s reach from SoFi’s consumer banking platform into institutional digital asset markets.