BitGo launches stablecoin minting and redemption for clients according to a press release.
BitGo has announced official new features with minting and redemption now available for clients under its stablecoin solutions. The public company now holds a national banking trust charter license and is already supporting big clients such as SoFi and World Liberty Financial for their SoFiUSD and USD1 stablecoins respectively.
Co-Founder and CEO Mike Belshe expressed:
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.”
BitGo is solidifying its market presence as one of the top stablecoin banking partners in the U.S., with main competitor Anchorage also in the mix.
While Clarity Act is still in the “end game” stage of settling the stablecoin yield issue, it is clear that institutional demand continues to rise from those players who see the opportunity for their clients.
Recently, BitGo became a member of Ubyx as a stablecoin issuing member and liquidity provider for stablecoin clearing and tokenised deposits, as well as being selected as the primary custodian for The Better Money Company.
