BitGo Selected to Provide Stablecoin Infrastructure and Support Distribution for SoFiUSD

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Key Terms

stablecoin financial

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

permissionless blockchain technical

A permissionless blockchain is a public digital ledger that anyone can join, read from, and add transactions to without needing approval. Think of it as a permanent, shared bulletin board where any person can post and others can independently check that the post is authentic. Investors care because openness affects how easily tokens are traded, how resistant the system is to censorship or control, and the security and regulatory risks that influence long‑term value and liquidity.

occ-regulated regulatory

An OCC-regulated firm is one overseen by the U.S. Office of the Comptroller of the Currency, the federal agency that supervises national banks and federal savings associations. For investors this matters because OCC oversight means the institution must follow federal rules on safety, capital and consumer protections—like having a certified safety inspector—reducing regulatory and operational risk that can affect a bank’s stability and stock or bond value.

attestations financial

Attestations are formal statements or confirmations that certain facts, processes, financial figures, or controls are accurate and have been checked, often supported by documentation or an independent reviewer. For investors they matter because attestations act like a trusted receipt or a third‑party check on a company’s claims — helping reduce uncertainty about financial health, regulatory compliance, and management credibility, which can influence investment decisions and market reactions.

smart contracts technical

Self-executing digital agreements whose terms are written as code and stored on a distributed ledger so they run automatically when preset conditions are met — like a vending machine that releases a snack only after you insert the right coins. Investors care because smart contracts can speed up transactions, cut middlemen, reduce errors and fraud, and create new ways to issue, trade or enforce financial assets, which affects costs, risk and regulatory oversight.

custody technical

Custody is the safekeeping and management of financial assets, such as stocks or bonds, by a specialized institution on behalf of an investor. It ensures that the assets are securely stored, properly maintained, and accurately accounted for, similar to how a bank safely holds valuables for a customer. This arrangement gives investors confidence that their assets are protected and properly managed, allowing them to focus on their investment goals.

03/05/2026 - 08:00 AM

NEW YORK--(BUSINESS WIRE)-- BitGo Bank & Trust, N.A. (“BitGo Bank & Trust”), an OCC-regulated digital asset trust bank and subsidiary of BitGo Holdings, Inc. (“BitGo”) (NYSE: BTGO), today announces that they have been selected to provide stablecoin infrastructure services and support distribution for SoFiUSD, a U.S. dollar-pegged stablecoin issued by SoFi Bank, N.A. SoFiUSD is the first stablecoin issued by the U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain.

Through its Stablecoin-as-a-Service platform, BitGo is providing technology and operational infrastructure supporting SoFi Bank’s issuance of SoFiUSD. BitGo will also collaborate with select payments providers, market participants, and exchanges, helping expand institutional access and integration of SoFiUSD across the digital asset ecosystem.

“Our Stablecoin-as-a-Service offering was designed for forward-thinking institutions that require cutting-edge technology paired with BitGo’s longstanding foundation of trust,” said Mike Belshe, CEO and Co-founder of BitGo. “SoFiUSD represents the convergence of compliant banking and blockchain efficiency. We are proud to provide the infrastructure that enables SoFi to issue a stablecoin that’s safe, reliable, and ready to scale.”

“We're thrilled to expand institutional access to SoFiUSD through BitGo,” said Simon Griffin, Business Lead for Crypto Distribution at SoFi. “This isn't just a new token; it’s a critical piece of infrastructure that unlocks the next phase of digital finance for thousands of institutions through our partnership.”

Bank-Grade Compliance Meets Blockchain Innovation

As the first stablecoin issued by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain, SoFiUSD was designed to meet rigorous technical and regulatory standards to facilitate faster settlements, around-the-clock liquidity, and a reliable bridge between traditional banking and digital assets. Key features of SoFiUSD will include:

Issued 1:1 to the US Dollar: SoFiUSD is issued 1:1 against the U.S. dollar.
Transparency: Attestations provided by third-party auditors ensure transparency and trustworthy issuance.
Regulatory-First Infrastructure: Both SoFi Bank, N.A. and BitGo Bank & Trust are OCC-regulated institutions, creating an aligned relationship focused on regulatory compliance within each institution.
Global Scalability: BitGo’s infrastructure is purpose-built to handle large scale assets, making SoFiUSD an ideal building block for banks, fintechs, and enterprises.
Institutional-Grade Blockchain Stack: BitGo’s battle-tested smart contracts and custody with robust access controls and compliance features lay the solid foundation for secure minting, burning and transactions.

SoFiUSD marks an important step in connecting insured banking with always-on blockchain rails. Together, BitGo and SoFi set a new standard for trust through regulatory alignment, as both BitGo Bank & Trust and SoFi Bank, N.A. are OCC-regulated institutions. The collaboration not only advances technical capabilities, but also offers a level of public transparency and oversight that signals the maturation of stablecoins as part of the global financial system.

About BitGo

BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com.

About SoFi

SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. 13.7 million members trust SoFi to borrow, save, spend, invest, and protect their money and buy, sell and hold their crypto – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi’s technology platform Galileo to build and manage innovative financial solutions across 128 million global accounts. For more information, visit www.sofi.com or download our iOS and Android apps.