Bitgo Adds Native Stablecoin Minting With USD1 and SoFiUSD Support
The New York-based digital asset infrastructure company, which trades on NYSE under the ticker BTGO, announced the new capability on April 2. Bitgo Mint launches with native support for two stablecoins: USD1 and SoFiUSD. Both assets are already integrated into Bitgo’s Stablecoin-as-a-Service product suite.
Before Bitgo Mint, institutions handling stablecoin minting and redemption typically coordinated across separate custody providers, compliance systems, and internal operations teams. Bitgo Mint consolidates those steps inside a single interface, pairing mint and redeem functionality with regulated custody, policy controls, compliance infrastructure and in-platform reporting.
“Bitgo Mint brings minting and redemption into a unified institutional workflow, helping clients reduce operational complexity while operating within the platform they already use for digital asset operations,” said Mike Belshe, CEO and co-founder of Bitgo.
Stablecoins built on Bitgo’s Stablecoin-as-a-Service infrastructure can be distributed through Bitgo Mint, connecting issuers directly to Bitgo’s institutional client network, which includes market makers, banks, exchanges, asset managers, and fintech firms. The company expects to expand native mint and redemption support to additional assets over time, including tokenized products such as money market funds.
Bitgo holds a federally chartered digital asset trust bank, Bitgo Bank and Trust, National Association, which it describes as the first of its kind owned by a publicly traded company. The firm has operated in digital asset custody since 2013.
Bitgo Mint fits into the company’s broader effort to build institutional-grade infrastructure covering issuance, settlement, and safekeeping of digital assets.
FAQ 🔎
- What is Bitgo Mint? Bitgo Mint is a new platform capability that lets institutional clients mint, redeem and manage stablecoins inside Bitgo’s existing digital asset infrastructure.
- Which stablecoins does Bitgo Mint support? At launch, Bitgo Mint supports USD1 and SoFiUSD, both integrated with Bitgo’s Stablecoin-as-a-Service product.
- Who can use Bitgo Mint? Bitgo Mint is built for institutional clients including banks, exchanges, asset managers, market makers and fintech firms.
- Will Bitgo Mint support additional assets? Bitgo has stated it plans to expand native mint and redemption support to more digital assets, including tokenized money market funds.
Source: https://news.bitcoin.com/nyse-listed-bitgo-rolls-out-stablecoin-minting-platform-for-institutional-clients/
