BitGo has launched a service that lets institutional customers mint, redeem and manage stablecoins and other digital assets, The Block reported on April 2.
BitGo will first offer minting and redemption for Trump-backed World Liberty USD1 and SoFiUSD issued by SoFi Bank under the new service. SoFi Bank is an FDIC-insured depository institution regulated by the U.S. Office of the Comptroller of the Currency (OCC).
Mike Belshe (마이크 벨쉬), BitGo's chief executive and co-founder, said institutional clients want digital asset infrastructure built for operational efficiency, scalability and control. He said BitGo Mint ties minting and redemption into a single institutional workflow to reduce operational complexity for clients.
BitGo is targeting institutions pursuing their own stablecoin issuance as its key customers, including market makers, liquidity providers, banks, exchanges, asset managers and fintech companies.
Chi-gyu Hwang
delight@d-today.co.kr