SoFi Partners with BitGo to Launch Bank-Issued Stablecoin

SoFi Technologies has made a major move in the fintech industry by partnering with digital asset custodian BitGo to launch its bank-issued stablecoin, SoFiUSD. The partnership marks a significant shift towards the adoption of stablecoin infrastructure platforms by traditional financial institutions.

The integration will run through BitGo's Stablecoin-as-a-Service platform, which provides the technical stack needed to issue and manage stablecoins on public blockchains. This includes token minting, custody, compliance workflows, and integrations with exchanges and payment providers.

By outsourcing these components, SoFi can focus on distribution and financial services while relying on BitGo's infrastructure layer to handle the operational complexity of running a stablecoin network.