Bullish (NYSE: BLSH) filed applications with the U.S. Commodity Futures Trading Commission for designation as a Designated Contract Market and registration as a Derivatives Clearing Organization, the digital asset platform announced.

The applications have been submitted to CFTC staff and are part of the agency's standard review process. A DCM designation would allow Bullish to operate as a regulated derivatives exchange, while DCO registration would permit the company to provide clearing services for derivatives transactions.

"We are pleased to have submitted our DCM and DCO applications and look forward to engaging with the CFTC staff throughout the review," said Chris Tyrer, President of Bullish Exchange.

Bullish operates as an institutionally focused global digital asset platform providing market infrastructure and information services. The company operates Bullish Exchange, which offers spot and derivatives trading for digital assets, and Bullish Europe, which is regulated under the Markets in Crypto-Assets Regulation as a crypto asset service provider.

The company is also the parent of CoinDesk, which provides digital asset media and information services including indices, market data, and analytics.