TheBlock
BitGo has added USDC minting and redemption to Go Accounts for eligible customers of BitGo Bank & Trust, its digital asset trust bank subsidiary regulated by the Office of the Comptroller of the Currency. Orders are routed through BitGo's Circle Mint account, with flat fees disclosed before clients confirm transactions. The service supports USDC across nine blockchains, subject to jurisdiction and account requirements.
Why it matters
The addition expands BitGo's Mint service, which launched in April with support for World Liberty Financial's USD1 and SoFi Bank's SoFiUSD. The platform lets institutions access supported stablecoins without maintaining a separate relationship with each issuer.
Supported networks for USDC include Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche, HyperEVM, Monad and Aptos. Clients can initiate and monitor orders on BitGo's platform.
Market impact
The service gives eligible institutional clients another route to mint and redeem USDC across multiple networks. Onchain components of eligible orders can be processed around the clock, subject to network availability and account controls, while fiat funding and withdrawals remain subject to banking windows and settlement times.
The expansion follows the launch of BitGo Global Markets, offering institutional trading and financial services including crypto-backed financing, options and swaps. BitGo launched the business after acquiring NYDIG's institutional trading operation, with about 30 employees joining BitGo.
Frequently asked questions
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Who can use BitGo's USDC minting and redemption service?
The service is available to eligible customers of BitGo Bank & Trust, subject to jurisdiction and account requirements.
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How does BitGo route USDC minting and redemption orders?
BitGo routes orders through its Circle Mint account and shows clients flat fees before they confirm a transaction.
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Which networks does BitGo support for USDC orders?
The service supports Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche, HyperEVM, Monad and Aptos.
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Can BitGo clients complete USDC orders around the clock?
Onchain components of eligible orders can be processed 24/7, subject to network availability and account controls. Fiat funding and withdrawals remain subject to banking windows and settlement times.
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Which stablecoins did BitGo's Mint service support at launch?
BitGo launched the service in April with support for World Liberty Financial's USD1 and SoFi Bank's SoFiUSD.
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