BitGo has joined Ubyx as a settlement agent.
BitGo and Ubyx have announced their collaboration in the development of the clearing platform to assist with multi-issuance and stablecoin redemptions. BitGo’s national trust arm will provide stablecoin custody services and broader settlement support.
BitGo Head of Fintech Frank Wang expressed:
Ubyx is solving a critical structural challenge by enabling multiple issuers and multiple receivers to transact seamlessly while preserving par-value integrity. By joining as a settlement agent and investor, BitGo B&T is supporting the infrastructure necessary for digital assets to scale globally within regulated frameworks.”
BitGo will also provide an undisclosed investment to scale the clearinghouse network. The company has been increasing its institutional participation, ever since it had received its conditional OCC charter license, and is actively competing against Anchorage Digital.
Ubyx allows for receiving institutions and scaling partners to earn from participating in the network, specifically from settlement fees and foreign exchange earned from stablecoin redemptions.
Additionally, it has recently added solutions and wallet capability for emerging innovations bringing capital onchain, such as agentic commerce.
