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BitGo Bank & Trust has been selected to provide stablecoin infrastructure services and help support distribution for SoFiUSD, a U.S. dollar-pegged stablecoin issued by SoFi Bank, N.A.
The companies say the partnership is designed to expand institutional access to SoFiUSD and accelerate integrations across the digital asset ecosystem.
BitGo will run the issuance infrastructure via “Stablecoin-as-a-Service”
BitGo says it will provide the technology and operational infrastructure that supports SoFi Bank’s issuance of SoFiUSD through its Stablecoin-as-a-Service platform.
Beyond issuance, BitGo will also work with select payments providers, market participants, and exchanges to help broaden institutional access and integrations.
SoFiUSD is pitched as a bank-issued stablecoin on public rails
The release frames SoFiUSD as the first stablecoin issued by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain.
SoFi and BitGo position it as a “regulatory-first” stablecoin designed for faster settlements, 24/7 liquidity, and a bridge between traditional banking and digital assets.
Key features: attestations, OCC alignment, and mint/burn controls
SoFiUSD is issued 1:1 to the U.S. dollar, and the release says transparency is supported by attestations provided by third-party auditors.
Both SoFi Bank, N.A. and BitGo Bank & Trust are described as OCC-regulated institutions, with BitGo highlighting “battle-tested” smart contracts, custody access controls, and compliance features that support secure minting, burning, and transactions.
Distribution is the real play: getting SoFiUSD into institutional pipes
SoFi’s crypto distribution lead Simon Griffin described the partnership as a way to expand institutional access to SoFiUSD for “thousands of institutions.”
In plain terms, BitGo isn’t just helping issue the token—it’s trying to make SoFiUSD usable across the places institutions already trade, settle, and custody.
Why it matters for crypto
- Bank-issued stablecoins are moving from “concept” to real infrastructure partnerships with large custodians and settlement providers.
- If distribution expands via exchanges and payments providers, SoFiUSD could show up as a settlement rail, not just a token in a wallet.
- The emphasis on attestations and OCC alignment signals where compliance expectations are heading for large-scale stablecoins.
- “Stablecoin-as-a-Service” stacks are becoming the default route for institutions that want issuance without building everything in-house.
What to watch next
- Which exchanges, payment providers, and market participants BitGo brings into the SoFiUSD distribution network.
- Whether SoFiUSD gains meaningful settlement usage and liquidity outside SoFi’s own ecosystem.
- Any additional disclosures about the public-chain deployment and where SoFiUSD will be most actively used (payments vs trading vs treasury).
- Follow-on partnerships that embed SoFiUSD into card, remittance, or institutional settlement workflows.
Source: BitGo Press Release