Deutsche Bank Officially Becomes Banking Partner for Bullish, the NYSE-Listed Crypto Exchange

Deutsche Bank has officially been announced as the corporate banking partner for Bullish, a digital asset exchange listed on the New York Stock Exchange (NYSE). This partnership marks a significant milestone in the ongoing integration between the traditional financial sector and the global cryptocurrency industry.

In a joint official statement, Deutsche Bank and Bullish revealed that the partnership includes the provision of fiat deposit and withdrawal services to support Bullish’s operations under the supervision of the Hong Kong Securities and Futures Commission (SFC) and Germany’s Federal Financial Supervisory Authority (BaFin). The collaboration is expected to strengthen Bullish’s financial foundation and enhance transaction efficiency for users across both jurisdictions.

Service Innovation and Technological Infrastructure

Through this partnership, Deutsche Bank will provide a range of advanced corporate banking infrastructures, including:

• Real-time APIs for automated reporting and reconciliation,

• Instant payment systems to accelerate fiat on/off-ramp transactions, and

• Virtual account solutions to improve operational efficiency and reconciliation accuracy.

According to Bullish, these banking services will later be expanded to the United States, in line with regulatory developments and the company’s global business growth.

Chris Tyrer, President of Bullish Exchange, stated that the collaboration with Deutsche Bank represents a “key milestone” in strengthening the company’s banking network while providing users with broader access to fiat on/off-ramps.

Meanwhile, Kilian Thalhammer, a representative from Deutsche Bank, emphasized that the partnership aligns with Deutsche Bank’s ambition to become a “Global Hausbank” for the rapidly expanding digital economy.

Background and Significance of the Partnership

Bullish, headquartered in the Cayman Islands, holds operational licenses across several jurisdictions, including New York, Germany, Hong Kong, and Gibraltar. Since its launch in November 2021, the platform has achieved significant milestones—recording over US$1.5 trillion in cumulative trading volume and averaging US$2 billion in daily trading volume in 2025. Bullish currently ranks among the top 10 global crypto exchanges based on spot trading volume for Bitcoin (BTC) and Ether (ETH).

The entry of Deutsche Bank as a fiat service provider reflects the growing interest of traditional financial institutions in integrating with the digital asset sector. This partnership is expected to streamline fiat inflows (on-ramps) and outflows (off-ramps) between traditional financial systems and the crypto market in a secure, efficient, and fully compliant manner.

However, several challenges remain, particularly concerning regulatory disparities across jurisdictions, digital infrastructure security, and the stability of banking systems when managing large-scale fiat transactions. The success of this partnership will largely depend on both parties’ ability to ensure regulatory compliance and maintain institutional and retail client trust.

A Step Toward the Global Digital Economy

Through this collaboration, Deutsche Bank reaffirms its commitment to playing a central role in the global digital economy transformation, while Bullish solidifies its position as a key bridge between traditional finance and digital assets on the international stage.