BitGo has been selected to provide stablecoin infrastructure and distribution support for SoFiUSD, a new U.S. dollar-pegged digital currency issued by SoFi Bank.
The stablecoin is the first digital asset of this kind issued by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain.
The initiative will rely on BitGo’s Stablecoin-as-a-Service platform to power the technology and operational infrastructure behind the issuance of SoFiUSD. The companies say the partnership will also support broader institutional distribution of the stablecoin across payment providers, exchanges, and market participants within the digital asset ecosystem.
“Our Stablecoin-as-a-Service offering was designed for forward-thinking institutions that require cutting-edge technology paired with BitGo’s longstanding foundation of trust,” said Mike Belshe, CEO and Co-founder of BitGo. “SoFiUSD represents the convergence of compliant banking and blockchain efficiency. We are proud to provide the infrastructure that enables SoFi to issue a stablecoin that’s safe, reliable, and ready to scale.”
The collaboration aims to make SoFiUSD accessible to institutional users seeking blockchain-based payment rails while maintaining compliance with traditional banking regulations.
“We’re thrilled to expand institutional access to SoFiUSD through BitGo,” said Simon Griffin, Business Lead for Crypto Distribution at SoFi Technologies. “This isn’t just a new token; it’s a critical piece of infrastructure that unlocks the next phase of digital finance for thousands of institutions through our partnership.”
According to the companies, SoFiUSD is designed to meet strict regulatory and operational standards while enabling faster settlement, 24/7 liquidity, and seamless interaction between traditional banking systems and blockchain networks.
The stablecoin will be issued 1:1 against the U.S. dollar and supported by third-party attestations to enhance transparency around reserves and issuance. Both institutions involved in the initiative operate under oversight from the Office of the Comptroller of the Currency (OCC), aligning the project with established U.S. banking regulations.
BitGo’s infrastructure will support the blockchain layer behind the stablecoin, including smart contracts, custody systems, and compliance features required for minting, burning, and transactions. The platform is designed to support large-scale institutional usage, positioning SoFiUSD as a potential building block for banks, fintech platforms, and enterprise payment systems.
The partnership reflects growing interest among regulated financial institutions in stablecoins as a bridge between insured banking and blockchain-based financial infrastructure. By combining traditional banking oversight with blockchain technology, BitGo and SoFi aim to deliver a stablecoin model built around compliance, transparency, and institutional scalability.
