Home BitGo To Custody Assets For StableX’s $100M Stablecoin Strategy

BitGo To Custody Assets For StableX’s $100M Stablecoin Strategy

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BitGo To Custody Assets For StableX’s $100M Stablecoin Strategy
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Digital asset infrastructure company BitGo is going to provide custody and trading services for StableX Technologies’ digital asset treasury, as it is planning to acquire up to $100 million in crypto tokens tied to the stablecoin sector.

According to the announcement made on Tuesday, BitGo Bank & Trust, N.A., will serve as the custodian for StableX’s holdings of digital assets, while BitGo’s trading platforms will help execute the company’s planned acquisitions through its over-the-counter liquidity desk.

StableX is a listed company providing infrastructure and related technologies to stablecoins.

Chen Fang, chief revenue officer at BitGo, announced that “the partnership shows BitGo’s increasing role as the preferred infrastructure provider for the new-age publicly traded companies building digital asset treasury strategies.”

He added: “The StableX deal is significant because it goes beyond Bitcoin-centric treasury strategies. It signals demand for institutional custody infrastructure around stablecoin ecosystem tokens.”

StableX has already begun building its digital asset treasury. Earlier, it announced purchases of tokens including FLUID and Chainlink’s LINK in October.

BitGo, a digital asset infrastructure company, was founded in 2013. It provides custody, trading and other services for institutional clients in the crypto sector. The company got listed on the New York Stock Exchange in January, pricing its shares at $18 in its initial public offering.

The stock rose about 25% on its first day of trading before reversing course and later falling below its IPO price. The NYSE-traded shares closed after rising more than 11%.

Interest in the stablecoin sector has grown as the total stablecoin market capitalisation has climbed to more than $314 billion, according to the latest DefiLlama data. Though dedicated investment products remain limited, some investors are beginning to focus on the infrastructure that supports these tokens.

In September, Bitwise filed with the US Securities and Exchange Commission to launch a stablecoin & tokenisation ETF designed to track companies and digital assets tied to the stablecoin and tokenisation sectors.

The proposed exchange-traded fund would follow an index composed of companies involved in stablecoin issuance, infrastructure, payments and exchanges, alongside crypto assets such as Bitcoin and Ether.

In January, MarketVector Indexes also launched benchmarks focused on stablecoin and real-world asset tokenisation infrastructure, which underpin two exchange-traded funds from Amplify ETFs: the Amplify Tokenisation Technology ETF (TKNQ) and the Amplify Stablecoin Technology ETF (STBQ).

Several stablecoin issuers are also publicly traded companies. Circle issues the USDC stablecoin, the second-largest dollar-pegged token in circulation, while PayPal launched its PayPal USD stablecoin (PYUSD) in 2023 to support blockchain-based payments and settlement.

Western Union, one of the world’s largest remittance providers, recently announced its planned stablecoin settlement system will run on Solana and include a US Dollar Payment Token (USDPT), which the company expects to launch in the first half of 2026.

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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