January 26, 2026 - Bullish (NYSE: BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services, today announced its integration with Liquid Mercury, a leading technology provider for digital asset marketplaces and crypto trading.

Institutional and professional customers can now seamlessly access Bullish’s deep liquidity, near-zero spreads, and ecosystem of crypto derivatives across perpetuals, dated futures, and options, directly from the Liquid Mercury trading platform. The integration follows the recent launch of Bullish’s Options product, which has already surpassed $12 billion in total trade volume and established Bullish as the second-largest exchange by open interest for crypto settled Bitcoin options after less than three months of trading.

“As the institutional market for crypto derivatives matures, the demand for regulated counterparties, reliable liquidity, and sophisticated trading tools continues to rise,” said Chris Tyrer, President of Bullish Exchange. “Our integration with Liquid Mercury addresses this need head-on, offering institutions the technology, tools, and trust they expect to trade with increased confidence.”

Liquid Mercury is a trusted trading partner to a wide range of market participants including prop traders, quants, crypto funds, and asset managers. By integrating Bullish into their network of exchanges, Liquid Mercury enhances its offering with a unique source of deep, consistent liquidity, and access to Bullish’s institutional-grade crypto derivatives product suite.

"Liquid Mercury is thrilled to partner with Bullish as institutional crypto derivatives trading continues to mature," said Liquid Mercury CEO, Tony Saliba. "The high-quality team at Bullish has built something exceptional with outstanding liquidity and a sophisticated product offering. This integration provides our clients with seamless access to best-in-class execution across perpetuals, futures, and one of the market's fastest-growing options platforms."

Bullish has established itself as a top-tier, institutionally-focused digital assets exchange, executing over $2 billion in average daily volume in 2025 and surpassing $1.8 trillion in cumulative trading volume since launch. Ranking in the top five exchanges by spot volume for Bitcoin and Ether, Bullish offers best execution in crypto’s biggest assets and deep, deterministic liquidity from its automated market maker.

The integration is live and available to current Bullish and Liquid Mercury customers. To learn more, contact [email protected].