SoFi taps BitGo to support distribution of its SoFiUSD stablecoin

SoFi Technologies has chosen BitGo Bank & Trust as its technology and infrastructure partner to support the issuance and distribution of SoFiUSD, a stablecoin issued by SoFi Bank. BitGo will utilize its Stablecoin-as-a-Service platform to deliver the necessary operational infrastructure, enabling SoFi to issue SoFiUSD on a public, permissionless blockchain. The OCC-regulated BitGo trust bank will also handle distribution support, working with exchanges and payment providers to integrate SoFiUSD across the digital asset ecosystem. SoFiUSD is designed to function like a tokenized bank deposit, allowing near-instantaneous value transfer across blockchains, targeting enterprise settlement, fintech integration, and consumer payments. This partnership signifies a growing convergence between traditional banking and blockchain efficiency.

(Source：Crypto Briefing)