Bullish (BLSH) Q2 FY26 earnings call

Bullish marked a significant milestone with its tokenized shares trading on its regulated venue, underscoring its strategy to build infrastructure for tokenized securities. Despite a soft crypto market impacting trading volumes, the company reported strong year-over-year revenue growth, driven by record subscription services and other revenue and robust CoinDesk media engagement. Progress on the Equiniti acquisition continues, with regulatory approvals advancing, positioning Bullish to capitalize on the anticipated wave of issuer-sponsored tokenization.