BitGo will include USDC in its institutional stablecoin minting and redemption services

According to The Block, digital asset infrastructure company BitGo announced that it has added minting and redemption features for USDC in its Go Account. This service is open to qualified clients of its subsidiary BitGo Bank & Trust, which is a digital asset trust bank regulated by the Office of the Comptroller of the Currency (OCC). Clients can initiate and monitor USDC orders on the BitGo platform or via API, and BitGo will process them through its Circle Mint account, charging a fixed fee disclosed before the client confirms the transaction.

The service supports USDC on Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche, HyperEVM, Monad, and Aptos, with specific availability depending on jurisdiction and account requirements. Eligible orders can be processed on-chain 24/7, but fiat deposits and withdrawals must still adhere to banking processing windows and settlement times.

BitGo launched the Mint service for the first time in April this year, initially supporting USD1 from World Liberty Financial and SoFiUSD from SoFi Bank, allowing institutions to access related assets without establishing separate relationships with each issuer.

BitGo CEO and co-founder Mike Belshe stated that the more assets institutions use, the greater the workload for managing independent accounts and relationships with issuers. The company is enabling clients to access more assets through a single BitGo account based on the infrastructure they have already used.

Just a week prior, BitGo launched BitGo Global Markets, led by former NYDIG executive Pete Janney, offering institutional trading and financial services such as crypto collateral financing, options, and swaps; this business stems from the acquisition of NYDIG's institutional trading business on August 27, with about 30 employees joining as a result.