BitGo to Power U.S. Bank-Issued SoFiUSD Via Stablecoin-as-a-Service Platform
BitGo Bank & Trust will provide stablecoin infrastructure and distribution services for SoFiUSD, the U.S. dollar–pegged stablecoin issued by SoFi Bank on a public, permissionless blockchain. Issuance will be powered via BitGo’s Stablecoin-as-a-Service platform with integrations to payments providers and exchanges for expanded institutional access.
1. Partnership Details
On March 5, SoFi Bank selected BitGo Bank & Trust to provide stablecoin infrastructure and support distribution for SoFiUSD, marking a strategic collaboration to launch the new stablecoin.
2. SoFiUSD Design and Compliance
SoFiUSD is a U.S. dollar–pegged stablecoin issued by a nationally chartered, FDIC-insured deposit bank on a public, permissionless blockchain, combining regulatory oversight with blockchain transparency.
3. BitGo Platform Role
BitGo will power issuance via its Stablecoin-as-a-Service platform and integrate with payments providers and exchanges to broaden institutional access to SoFiUSD.