BitGo expands stablecoin minting platform with USDC for institutional clients
Institutional demand for consolidated access to multiple stablecoin issuers continues to shape digital asset infrastructure services. BitGo said Thursday that it has added USDC minting and redemption to Go Accounts at its federally regulated trust bank, letting eligible clients place orders without opening a separate Circle account.
Highlights
- BitGo Holdings has launched USDC minting and redemption for institutional clients via BitGo Bank & Trust, offering flat, pre-disclosed fees.
- USDC support now spans Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche, HyperEVM, Monad and Aptos, with on-chain orders processed 24/7 subject to network and account constraints.
- BitGo is expanding institutional services after launching BitGo Global Markets and acquiring NYDIG’s institutional trading business on Aug. 27, adding around 30 employees.
USDC service extends BitGo's mint platform
As reported by The Block, BitGo Holdings said its USDC minting and redemption service is available to eligible customers of BitGo Bank & Trust, the company's digital asset trust bank subsidiary regulated by the Office of the Comptroller of the Currency.Clients can initiate and track USDC orders through the BitGo platform or its API, with orders routed through BitGo's Circle Mint account. The company said it charges flat fees that are disclosed before a client confirms a transaction.
BitGo launched its Mint service in April with support for World Liberty Financial's USD1 and SoFi Bank's SoFiUSD. Chief executive and co-founder Mike Belshe said in the statement that institutions face growing operational work when they manage separate accounts and issuer relationships for multiple assets.
Institutional crypto push broadens
The service supports USDC on Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche, HyperEVM, Monad and Aptos, although BitGo said availability depends on jurisdiction and other account requirements.Eligible orders can have their on-chain components processed around the clock, subject to network availability and account controls. Clients that fund or withdraw in fiat still need to operate within applicable banking processing windows and settlement times.
The expansion comes after last week's launch of BitGo Global Markets, which is led by former NYDIG executive Pete Janney and is aimed at institutional trading and financial services, including crypto-backed financing, options and swaps. That launch follows BitGo's acquisition of NYDIG's institutional trading business on Aug. 27, after which about 30 employees joined the company.
In earlier coverage, we examined cybersecurity startup funding as larger late-stage rounds lifted Q3 totals despite fewer deals.
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