MEZO and MUSD Are Live on Bullish Exchange
MEZO and MUSD are now live on Bullish Exchange, the institutional digital asset platform operated by Bullish (NYSE: BLSH). Institutional and retail traders can now access both tokens through a regulated, publicly traded venue with segregated custody.
Institutional allocators and traders who want access to MEZO and MUSD without touching a DEX now have a regulated venue to use.
Today, Mezo's governance token (MEZO) and Bitcoin-backed stablecoin (MUSD) are listed on Bullish Exchange, the institutional digital asset platform operated by Bullish (NYSE: BLSH). Both tokens are available on Bullish via Ethereum L1 at launch.
Why Bullish
Bullish runs a central limit order book matching engine combined with automated market making. In 2025, the exchange executed over $2 billion in average daily volume and has surpassed $1.8 trillion in cumulative trading volume since launch. BitGo, a qualified custodian and regulated trust company, provides the custody infrastructure. Customer assets are maintained at a 1:1 ratio and segregated from company assets.
Bullish operates under regulatory frameworks in the United States, Hong Kong, Gibraltar, and the European Union.
Mezo chose Bullish because its compliance infrastructure and custody architecture match the standards institutional allocators require. A centralized exchange listing on a regulated, publicly traded venue removes friction for participants who cannot access decentralized exchanges.
MEZO and MUSD
MEZO is the coordination token that amplifies Bitcoin activity on Mezo. veBTC holders pair their positions with veMEZO to amplify voting weight on gauges, directing emissions to liquidity pools, the MUSD Savings Rate, and other protocol gauges. In return, veBTC holders earn a share of the fees Mezo generates — swap fees, MUSD interest, and bridging revenue.
Learn more about getting started with MEZO here:
Joey Campbell
MUSD is Mezo's Bitcoin-backed stablecoin, collateralized by BTC at a fixed 1% APR. Mezo has processed over $550 million in lifetime MUSD volume and issued more than 2,000 loans. MUSD collateralization sits at 168%+. MUSD is the dollar liquidity layer for BTC holders who want to spend value without selling their Bitcoin.
Where Mezo Stands
Three weeks after the MEZO token launch, Mezo's total value locked sits at approximately $171.3 million. The protocol supports over 43,500 mainnet users.
Yield on Mezo comes from real protocol activity: borrower interest on MUSD loans, origination fees, and swap fees from the native DEX. BTC lockers have earned from 4%-27% APR, with MEZO token emissions building toward a model backed by protocol revenue.
The Bullish listing follows Mezo's recent partnership with Aerodrome Finance, the largest decentralized exchange on Base, and the conclusion of the "Bring Bitcoin Home" campaign, which migrated approximately $23 million in Bitcoin-denominated assets from Ethereum to Mezo's mainnet.
From the team
"Bullish gives MEZO and MUSD a regulated trading venue built for the participants we want to reach. BTC holders and institutions can now access Mezo's tokens through a publicly traded exchange with segregated custody and compliance infrastructure. That matters more than volume numbers."
— Matt Luongo, founder and CEO of Mezo
Start banking on yourself
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