BitGo Launches BitGo Mint, Native Stablecoin Minting and Redemption for Institutions
Key Terms
stablecoins financial
stablecoin-as-a-service financial
New platform capability enables institutional clients a single destination to mint, redeem, and manage supported digital assets within BitGo's platform, launching with immediate access to SoFiUSD and
BitGo Mint simplifies the operational workflow for institutions engaging in minting and redeeming digital assets by reducing the need to coordinate across multiple service providers, systems and manual processes. Through BitGo Mint, clients can access mint and redeem functionality for supported assets from within the BitGo platform, while leveraging regulated custody, policy controls, compliance infrastructure and in-platform reporting.
"Institutional clients want digital asset infrastructure that is operationally efficient, scalable, and built for control," said Mike Belshe, CEO and Co-founder of BitGo. "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. Stablecoins have become increasingly crucial, and BitGo Mint gives institutions the control and efficiency they need to operate at scale."
Stablecoins powered by BitGo’s Stablecoin-as-a-Service product suite, can be made available through BitGo Mint, giving issuers and partners access to BitGo's global network of institutional clients, including market makers, liquidity providers, banks, exchanges, asset managers, and fintechs. Over time, BitGo expects to expand native mint and redemption support to additional digital assets, including tokenized financial products such as money market funds.
BitGo Mint reflects the Company’s broader strategy to build infrastructure for institutional participation in digital assets, including workflows that support the issuance, movement, settlement, and safekeeping of stablecoins.
About BitGo
BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the highly volatile nature of digital assets, technical issues in connection with the integration of supported digital assets and changes and upgrades to their underlying network, heightened scrutiny of our industry and operations, the theft, loss, or destruction of private keys required to access any digital assets held in custody for our own account or for our clients, errors in executing client transactions or managing our own trading activities, and the other factors discussed in the Company’s Annual Report on Form 10-K filed with the
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Media Contact
press@bitgo.com
Source: BitGo Holdings, Inc.