Crypto & Digital Asset Exchange $9.9 Billion Bullish to Buy UK Financial Administration & Shareholder Services Company Equiniti at $4.2 Billion Valuation in All-Share Deal ($2.35 Billion Shares, $1.85 Billion Debt) from United States $6 Billion Private Equity Firm Siris Capital, Equiniti was Spin-off from UK Lloyds TSB in 2007
10th May 2026 | Hong Kong
Crypto & digital asset exchange Bullish ($9.9 billion market value) has announced to buy UK financial administration & shareholder services company Equiniti at $4.2 billion valuation in all-share deal ($2.35 billion shares, $1.85 billion debt) from United States private equity firm Siris Capital ($6.2 billion raised). Equiniti was spin-off from Lloyds TSB in 2007. Announcement (5/5/26): “Bullish, the institutional-grade digital asset platform, today announced it has entered into a definitive agreement to acquire Equiniti, a leading global transfer agent and provider of mission-critical shareholder services, in a transaction valued at $4.2 billion. The combination creates the global transfer agent for tokenized securities and aims to position Bullish to lead the shift toward blockchain-native capital markets infrastructure. The acquisition brings together Bullish’s blockchain-native offering: token design, issuance, operation and compliance; distribution through regulated markets globally; liquidity provisioning; and visibility through CoinDesk’s media, data, and research. Equiniti brings what every listed company in most major markets is required to have: a regulated transfer agent. As the system of record for nearly 3,000 blue-chip public companies, Equiniti processes approximately $500 billion in annual payments and supports over 20 million verified shareholders. The combined platform, built to work alongside existing market infrastructure, supports the complete tokenized asset lifecycle.”
“ Crypto & Digital Asset Exchange $9.9 Billion Bullish to Buy UK Financial Administration & Shareholder Services Company Equiniti at $4.2 Billion Valuation in All-Share Deal ($2.35 Billion Shares, $1.85 Billion Debt) from United States $6 Billion Private Equity Firm Siris Capital, Equiniti was Spin-off from UK Lloyds TSB in 2007 “
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Tom Farley, CEO of Bullish: “Tokenization is a once-in-a-generation shift in how capital markets operate, the defining infrastructure trend of the next 25 years. Broad adoption at institutional scale requires three things: end-to-end tokenization services, a single, unified ledger, and a broad base of blue-chip issuer relationships, at scale. This combination delivers all three and I believe it uniquely positions us to lead the transition to tokenized securities.”
Dan Kramer, CEO of Equiniti: “Equiniti sits at the heart of global capital markets, supporting clients who rely on resilient and trusted infrastructure. When I joined, the mission was clear: support our clients as they modernize by combining deep operational expertise with modern technology in a responsible way. This transaction reflects that intent. It strengthens our ability to support clients as markets evolve, while maintaining the stability, service, and trust they expect from Equiniti. Working closely with Tom over the last few months, it’s clear we share a common view: market infrastructure should modernize thoughtfully, securely, and with clients leading the way.”
Equiniti – EQ is an industry leading provider of ownership data management, analytics and advisory services to public and private companies as well as mutual funds. We’re #1 in the U.S. market for IPOs, Information Agent and Mutual Fund Proxy services. We’re #1 transfer agent for customer satisfaction in the U.S. based on independent research by Group 5 and #2 transfer agent by market share.
Bullish – The Bullish digital asset exchange offers market-leading order depth and consistently tight spreads all in a regulated environment.
Crypto & Digital Asset Exchange $9.9 Billion Bullish to Buy UK Financial Administration & Shareholder Services Company Equiniti at $4.2 Billion Valuation in All-Share Deal ($2.35 Billion Shares, $1.85 Billion Debt) from United States $6 Billion Private Equity Firm Siris Capital, Equiniti was Spin-off from UK Lloyds TSB in 2007
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