BitGo Selected to Provide Stablecoin Infrastructure and Support Distribution for SoFiUSD
BitGo Holdings, Inc. Class A (BTGO)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--BitGo Bank & Trust, N.A. (“BitGo Bank & Trust”), an OCC-regulated digital asset trust bank and subsidiary of BitGo Holdings, Inc. (“BitGo”) (NYSE: BTGO), today announces that they have been selected to provide stablecoin infrastructure services and support distribution for SoFiUSD, a U.S. dollar-pegged stablecoin issued by SoFi Bank, N.A. SoFiUSD is the first stablecoin issued by the U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain.Through its Stablecoin-as-a-Service platform, BitGo is providing technology and operational infrastructure supporting SoFi Bank’s issuance of SoFiUSD. BitGo will also collaborate with select payments providers, market participants, and exchanges, helping expand institutional access and integration of SoFiUSD across the digital asset ecosystem.“Our Stablecoin-as-a-Service offering was designed for forward-thinking institutions that require cutting-edge technology paired with BitGo’s long
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