BitGo offers institutions a single platform for stablecoin custody and issuance operations, while leaving issuers responsible for governance, compliance and distribution of their tokens.
The company describes its Stablecoin-as-a-Service product as combining custody, reserve management and smart contract infrastructure. It also lists daily reserve reconciliation, support for independent attestations and an application for creating and retiring tokens. Those functions bring together work that an institution would otherwise need to arrange across separate systems.
BitGo says issuers outside the United States remain responsible for meeting legal requirements applicable to them. Its tools do not transfer that responsibility to the company.
BitGo expanded its offering on April 2 with BitGo Mint, which allows institutions to create and redeem supported stablecoins within its platform. In announcing the feature, the company said minting and redemption typically require coordination among multiple providers and systems. USD1 and SoFiUSD were available through BitGo Mint at launch, BitGo said.
