BitGo Adds USDC to Its Institutional Stablecoin Minting and Redemption Platform

According to TechFlow, on November 12, The Block reported that crypto custody firm BitGo expanded its institutional stablecoin minting and redemption platform to USDC. Institutional clients can directly mint and redeem USDC on BitGo's platform without building their own issuance and reserve management infrastructure.

This capability is an extension of BitGo's Stablecoin-as-a-Service offering launched on October 20. The solution targets banks, fintech companies, and general enterprises, providing issuance, custody, and reserve management tools, including stablecoin minting and burning; BitGo said at the time that the solution aligns with the U.S. GENIUS Act and other regulatory requirements, but legal and compliance reviews remain the responsibility of institutions.

USDC is issued by Circle and is the second-largest USD stablecoin by market capitalization. BitGo has not disclosed the blockchains, fees, or launch timeline covered by this integration, and The Block's report did not provide a specific client list.

Source: TechFlow