Crypto exchange Bullish is set to acquire global transfer agent Equiniti from private equity firm Siris for $4.2 billion, The Block reported on May 5.

A transfer agent officially records and manages the transfer of ownership of securities such as stocks or bonds.

Equiniti processes $500 billion in annual payments and provides shareholder services, holding shareholder data on 20 million people. Bullish will combine its blockchain issuance and compliance services with Equiniti’s shareholder record system through the acquisition.

The integrated platform will operate by adding Bullish’s digital asset infrastructure to Equiniti, which has status as a transfer agent registered with the U.S. Securities and Exchange Commission and an operating framework regulated by the UK Financial Conduct Authority. It will also maintain compatibility with existing capital market infrastructure such as DTCC, Euroclear and Clearstream.

Bullish said the integrated platform will provide issuer shareholders with real-time visibility into equity holdings, automation of shareholder-related corporate event processing, investor access and lower costs.

Outside the United States, it will also provide secondary trading infrastructure for eligible tokenised stocks. Equiniti will be run separately under Bullish along with the Bullish exchange and CoinDesk. The deal is expected to be completed in January 2027 following regulatory approvals.