Lead Product Manager, Tokenization

About Bullish Bullish is an institutionally focused global digital asset platform that provides market infrastructure and information services. These include: Bullish Exchange – a regulated and institutionally focused digital assets spot and derivatives exchange, integrating a high-performance central limit order book matching engine with automated market making to provide deep and predictable liquidity. Bullish Exchange is regulated in Germany, Hong Kong, and Gibraltar. CoinDesk Indices – a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets for global institutions in the digital assets and traditional finance industries. CoinDesk Data - a broad suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics. CoinDesk Insights – a digital asset media and events provider and operator of Coindesk.com, a digital media platform that covers news and insights about digital assets, the underlying markets, policy, and blockchain technology. Reports to: Head of Product Position Overview Bullish is building the institutional rails for tokenized securities, bringing issuance, trading, and settlement onchain across equities, money market funds, and real-world assets. We are looking for a Lead Product Manager to own this product domain end-to-end and to help set its strategy. This is a senior individual contributor role for someone who operates as the recognized product authority on tokenization. You will define how traditional market infrastructure connects to digital asset rails, shape Bullish's positioning in a fast-moving regulatory and competitive landscape, and turn that strategy into shipped, institutional-grade products. You will work directly with exchange leadership, our Equiniti partners, regulators, issuers, and Engineering to deliver capabilities that move the market, not just the roadmap. Where a Senior PM executes a defined product, this role helps define the product space. You will make the foundational decisions (token architecture, settlement model, registry and transfer-agent integration, compliance design) that everything downstream depends on, and you will be measured on market outcomes such as launching tokenized trading and settlement at scale. Responsibilities: Support the end-to-end product vision and multi-year strategy for the Bullish tokenization platform, spanning the full asset lifecycle (issuance, secondary trading, settlement) and the core operations that run it. Make the foundational platform decisions everything else depends on: token architecture, compliance-aware transfer restrictions, the settlement model (including the path from traditional T+1/T+0 rails to atomic, on-chain delivery versus payment), and the conversion path between traditional registry holdings and native on-chain tokens, designed to operate across multiple chains, including permissioned and privacy-enabled networks. Define operator interfaces and APIs for essential asset operations (issuance, burning, pausing, revaluation) and configurable multi-organizational approval workflows across issuers, transfer agents, and the exchange, and own the reconciliation between the registry book of record and on-chain state, including automated exception handling across lifecycle events. Drive smart-contract automation of corporate actions (dividends, stock splits, proxy voting, revaluation, clawback and recall) to a standard that institutions and issuers will trust, with auditability, reporting, and controls designed in from the start. Develop use cases, requirements, and prototypes alongside Engineering, moving fluidly from strategy to working product. Build the broker enablement layer (APIs, SDKs, documentation, sandbox parity) and distribution model so that brokers, neobanks, and wealth platforms can run on Bullish rails, treating integrating developers and partners as first-class customers, and architect approaches that make tokenized assets composable within DeFi without compromising compliance, accounting for how splits and dividends rebase positions used as collateral. Set the roadmap and secure buy-in: align Engineering, Legal, Compliance, Operations, and external partners behind a single vision, and represent that vision credibly to C-suite executives, regulators, issuers, and industry and standards working groups. Define the success metrics for the platform (adoption, time to integrate, settlement throughput, reliability) and own the commercial case behind roadmap calls, including build versus buy and platform economics. Shape the external narrative with Marketing, from product positioning through launch. Lead the competitive and regulatory analysis that informs Bullish's positioning, and raise the bar across the product team by setting the standards, patterns, and playbooks others adopt. Experience & Qualifications: Bachelor's or advanced degree in Finance, Economics, Computer Science, or Engineering. 8+ years in product management within financial services, with 4+ years owning blockchain, tokenization, or digital asset products, and a demonstrated track record of shipping institutional-grade financial infrastructure end to end. Recognized command of token standards (including compliance-aware standards such as ERC-3643 and the DS Protocol, with embedded transfer restrictions), smart contract patterns, settlement mechanics, and the market structure that connects traditional securities infrastructure (registry, transfer agents, clearing and settlement through DTC and NSCC, order routing, and NBBO and Reg NMS mechanics) to on-chain rails. You bring a clear point of view on direct, registry-backed ownership versus synthetic or custodial models. A track record of defining a product space in ambiguity, not just executing a roadmap, and of carrying a strategy from a blank page to a launched product. You don't just read about AI, you build with it daily. You run agents and LLM tooling across PRD drafting, call and customer synthesis, data exploration, and prototyping, and you have a clear vision for where agentic workflows reshape product management. Exceptional ability to convey complex technical and regulatory concepts to C-suite stakeholders, regulators, and partners, and to lead cross-functionally through influence rather than authority. Extra Points: Industry knowledge across cryptocurrency, blockchain, digital assets, RWA tokenization, and digital securities issuance. Familiarity with the regulatory landscape for tokenized securities, including KYC and AML obligations, transfer-agent rules, and the relevant CFTC and SEC frameworks. A bias toward solving the hardest problems, where no problem is too big. A genuine passion for staying ahead of the curve in digital assets and AI. Bullish US LLC & CoinDesk Inc. are committed to offering competitive compensation and benefits. The anticipated base salary for this position is $245,000 - $285,000 + discretionary annual target bonus + performance incentives/benefits. Offered salary will be reflective of job related knowledge, skills and commensurate experience. Bullish is proud to be an equal opportunity employer. We are fast evolving and striving towards being a globally-diverse community. With integrity at our core, our success is driven by a talented team of individuals and the different perspectives they are encouraged to bring to work every day. A new breed of exchange. Learn more at