In a move that could reshape the stablecoin infrastructure, SoFi Bank, NA has partnered with BitGo Bank & Trust to support the launch of the new sofiusd stablecoin.
BitGo supports the SoFiUSD infrastructure and distribution
BitGo Bank & Trustan OCC-regulated digital asset trust bank and subsidiary of BitGo Holdings, Inc. (NYSE: BTGO), announced in New York that it has been selected to supply stablecoin infrastructure services and support distribution for SoFiUSDa US dollar pegged token issued by SoFi Bank, NA
SoFiUSD is the first stablecoin issued by a nationally chartered and insured depository bank in the US that operates on a public, permissionless blockchain. Furthermore, the mandate positions BitGo at the center of a new wave of regulated digital dollars built directly on open networks.
Through his Stablecoin-as-a-Service platform, BitGo will provide the technology stack and operational infrastructure that supports SoFi Bank’s issuance and lifecycle management of SoFiUSD. Additionally, BitGo plans to partner with select payment providers, market participants and exchanges to expand the token’s institutional access and integration into the broader digital asset ecosystem.
Strategic vision of BitGo and SoFi
“Our Stablecoin-as-a-Service offering is designed for forward-thinking institutions that need cutting-edge technology combined with BitGo’s long-standing foundation of trust,” said Mike BelsheCEO and co-founder of BitGo. However, he emphasized that SoFiUSD is not just a tech product, but a regulatory milestone for the industry.
“SoFiUSD represents the convergence of compliant banking and blockchain efficiencies. We are proud to provide the infrastructure that allows SoFi to issue a stablecoin that is secure, reliable, and ready to scale,” Belshe added, underscoring BitGo’s role in enabling large, regulated issuers.
On the side of the issuers Simon GriffinBusiness Lead for Crypto Distribution at SoFi, framed the launch as fundamental to institutional adoption. “We are thrilled to expand institutional access to SoFiUSD through BitGo,” he said, emphasizing that the token is intended to be used as core infrastructure rather than a niche product.
“This isn’t just a new token; it’s a critical piece of infrastructure that will unlock the next phase of digital finance for thousands of institutions through our partnership,” concludes Griffin. That said, the long-term impact will depend on how quickly banks, fintechs and corporations integrate the new rails.
Bank-level compliance combined with open blockchain rails
As the first stablecoin issued by a US nationally chartered and insured depository bank on a public, permissionless blockchain, SoFiUSD was built around strict regulatory and technical requirements. Furthermore, the design aims to provide faster settlements, 24/7 liquidity and a predictable bridge between traditional banking and digital assets.
Key features of SoFiUSD include issuance at a strict rate 1:1 ratio against the US dollarso that each token is backed by a corresponding dollar claim. At the same time, the model seeks to provide both institutions and end-users with predictable repayment mechanisms aligned with bank-level supervision.
Transparency is another pillar. Attestations from independent external auditors will be used to verify reserves and issuances, creating a verifiable track record over time. However, the exact rhythm and scope of these attestations will likely be closely monitored by market participants and regulators.
The partnership takes a ‘regulatory first’ approach. Both SoFi Bank, NA And BitGo Bank & Trust are OCC-regulated institutions that align incentives around compliance, risk management and supervisory expectations. This shared regulatory perimeter is positioned as a competitive advantage in the crowded stablecoin market.
Tech stack and scalability for institutions
On the technology side, BitGo contributes to supporting a proven institutional blockchain stack hitting, burning and transactions from SoFiUSD. Additionally, that stack includes custody with robust access controls and embedded compliance features tailored to large financial actors.
BitGo’s infrastructure is purpose-built to handle large-scale on-chain asset flows, making SoFiUSD a potential base layer for banks, fintechs, and enterprises looking to build payment or treasury products. In this context, the sofiusd stablecoin is framed as an institutional-quality building block rather than a pure retail product.
Global scalability is central to the roadmap. BitGo expects its infrastructure to support high-throughput issuance and transfers as demand grows, especially through exchanges, settlement networks and cross-border payment corridors. That said, real-world adoption will depend on integration timelines and regulatory clarity in key jurisdictions.
This marks a new phase for regulated stablecoins
SoFiUSD marks a notable step in connecting insured banking to always-on blockchain rails. Together, BitGo and SoFi argue they are setting a higher standard for trust through regulatory alignment, as both BitGo Bank & Trust and SoFi Bank, NA remain under OCC supervision.
The collaboration goes beyond pure technical improvement and provides a level of public transparency and oversight that could signal the maturity of stablecoins within the global financial system. Furthermore, this could increase competition among issuers seeking similar partnerships with regulated banks.
BitGo: from custody pioneer to infrastructure provider
BitGo (NYSE: BTGO) has evolved from a pioneer in crypto custody to a broad digital asset infrastructure provider. Since 2013, the company has focused on accelerating the financial system’s shift to a digital asset economy, developing services used by both local crypto companies and traditional institutions.
Today, BitGo offers institutional custody, wallets, staking, trading, financing, stablecoins and settlement services, largely anchored in regulated cold storage. Furthermore, the group operates multiple regulated entities including BitGo Bank & Trust, national associationrecognized as the first federally chartered digital asset trust bank owned by a publicly traded company.
BitGo currently serves thousands of institutions, including many leading industry brands, financial institutions, exchanges and digital asset platforms, and indirectly millions of investors around the world. For further company and product details, the company refers interested parties to its website www.bitgo.com.
SoFi’s broader digital finance strategy
SoFi technologies (NASDAQ: SOFI) operates as a one-stop shop for digital financial services, with a stated mission to help people achieve financial independence and pursue their ambitions. As of the last announcement 13.7 million members use SoFi to borrow, save, spend, invest and protect their money.
Members can also buy, sell and hold cryptocurrencies within a single app while having access to financial planners, exclusive experiences and a large community. In addition, SoFi’s technology platform Galileo is used by fintechs, financial institutions and brands to build and manage innovative financial solutions everywhere 128 million global accounts.
SoFi’s move to bank-issued stablecoins through SoFiUSD complements existing digital banking and investment offerings, expanding its reach deeper into blockchain-based financial infrastructure. For more information, SoFi refers users to www.sofi.com or the iOS and Android applications.
In summary, the BitGo-SoFi partnership around SoFiUSD introduces a new model for regulated, bank-issued stablecoins on public blockchains, aiming to combine insured deposits, strong supervision, and institutional-grade crypto infrastructure.