BitGo Launches Stablecoin Minting Service for Institutional Clients

Digital asset custodian BitGo has introduced the BitGo Mint service, offering minting, redemption, and management of stablecoins and other digital assets to institutional clients. According to ChainCatcher, the service initially supports the World Liberty stablecoin USD1, endorsed by U.S. President Donald Trump, and SoFiUSD, issued by SoFi Bank, which is regulated by the U.S. OCC and insured by the FDIC. BitGo aims to integrate the stablecoin minting and redemption processes into its existing custody and operational platform. This service targets market makers, liquidity providers, banks, exchanges, asset management firms, and fintech companies, aiming to simplify the operational complexities associated with stablecoin transactions for institutions.