BitGo Holdings, Inc. (BTGO) has expanded its institutional stablecoin minting and redemption platform by adding support for USDC (USDC). The service is now available to eligible customers of BitGo Bank & Trust, the firm's regulated digital asset trust bank subsidiary.
Clients can initiate and monitor USDC orders directly on the BitGo platform or through its API. The company routes these orders through its Circle Mint account, ensuring transparency with flat fees displayed before transaction confirmation. This follows BitGo's initial launch of minting and redemption services for USD1 and SoFiUSD in April.
BitGo CEO and co-founder Mike Belshe emphasized the convenience of consolidating asset management. 'The more assets an institution uses, the more work it takes to manage separate accounts and issuer relationships,' he said. The service supports USDC on multiple blockchains, including Ethereum, Solana, and Arbitrum, though availability varies by jurisdiction.
The onchain components of eligible orders can be processed around the clock, subject to network availability. However, fiat funding and withdrawals remain subject to standard banking processing windows. This announcement comes after BitGo's recent launch of BitGo Global Markets, led by former NYDIG executive Pete Janney, which offers institutional trading and financial services.