Former NYSE president says stock issuers hold the key to tokenization as Bullish builds its platform

Bullish, the digital asset platform, is betting that stock issuers—not exchanges or trading venues—will drive tokenization adoption, according to newly appointed President Stacey Cunningham, the former NYSE president. Cunningham pointed to Bullish's planned acquisition of Equiniti, a stock transfer agent and issuer-services firm, as central to that strategy. The approach differs from platforms that focus on trading tokenized assets, positioning Bullish to work directly with companies issuing shares. The deal matters because issuer buy-in is widely seen as a prerequisite for scaling tokenized equity markets. What to watch next is whether the Equiniti acquisition closes and whether issuers sign on to tokenize shares through Bullish's platform.