Digital-asset exchange operator Bullish appointed tokenization executive Thomas Cowan as Head of Tokenization on Monday to lead its strategy and build market infrastructure for tokenized securities across the company’s platform.
Cowan will connect functions spanning issuance, ownership records, compliance, corporate actions and trading. Bullish described the role as an execution-focused position covering existing businesses and planned capabilities.
The company said its strategy draws on Bullish Exchange, CoinDesk’s data and indices, the pending Equiniti acquisition and approval from the Gibraltar Financial Services Commission. That approval covers planned tokenized-securities trading for eligible non-U.S. investors, subject to launch conditions and continuing regulatory work.
Cowan joins from Galaxy, where he led institutional tokenization. Bullish said he led work on Galaxy’s direct stock tokenization on a public blockchain with Superstate, without using a special purpose vehicle.
“The opportunity now is to connect those components into core market infrastructure that both issuers and investors can rely on,” said Thomas Cowan, Head of Tokenization at Bullish.
Bullish agreed in May to acquire transfer agent Equiniti, with registry capabilities that would connect shareholder records to Bullish’s blockchain and trading systems. Closing is anticipated in January 2027, pending conditions and regulatory approvals.
