In a move that could reshape stablecoin infrastructure, SoFi Bank, N.A. has partnered with BitGo Bank & Trust to support the launch of the new sofiusd stablecoin.
BitGo to power SoFiUSD infrastructure and distribution
BitGo Bank & Trust, an OCC-regulated digital asset trust bank and subsidiary of BitGo Holdings, Inc. (NYSE: BTGO), announced in New York that it has been selected to provide stablecoin infrastructure services and support distribution for SoFiUSD, a U.S. dollar-pegged token issued by SoFi Bank, N.A.
SoFiUSD is the first stablecoin issued by a U.S. nationally chartered and insured deposit bank operating on a public, permissionless blockchain. Moreover, the mandate positions BitGo at the center of a new wave of regulated digital dollars built directly on open networks.
Through its Stablecoin-as-a-Service platform, BitGo will supply the technology stack and operational infrastructure that underpins SoFi Bank‘s issuance and lifecycle management of SoFiUSD. In addition, BitGo plans to work with selected payment providers, market participants, and exchanges to expand institutional access and integration of the token across the wider digital asset ecosystem.
Strategic vision from BitGo and SoFi
“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. However, he stressed that SoFiUSD is not just a technical product but a regulatory milestone for the sector.
“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,” Belshe added, underlining BitGo’s role in enabling large, regulated issuers.
On the issuer side, Simon Griffin, Business Lead for Crypto Distribution at SoFi, framed the launch as foundational for institutional adoption. “We’re thrilled to expand institutional access to SoFiUSD through BitGo,” he said, emphasizing that the token is meant 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 unlocks the next phase of digital finance for thousands of institutions through our partnership,” Griffin concluded. That said, the long-term impact will depend on how quickly banks, fintechs, and corporates integrate the new rails.
Bank-grade compliance meets open blockchain rails
As the first stablecoin issued by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain, SoFiUSD was built around stringent regulatory and technical requirements. Moreover, its design aims to deliver faster settlements, 24/7 liquidity, and a predictable bridge between traditional banking and digital assets.
Key characteristics of SoFiUSD include issuance at a strict 1:1 ratio to the U.S. dollar, ensuring that every token is backed by a corresponding dollar claim. In parallel, the model seeks to give both institutions and end users predictable redemption mechanics aligned with bank-grade oversight.
Transparency is another pillar. Attestations from independent third-party auditors will be used to verify reserves and issuance, creating a verifiable track record over time. However, the exact cadence and scope of those attestations will likely be closely watched by market participants and regulators.
The partnership takes a regulatory-first approach. Both SoFi Bank, N.A. and BitGo Bank & Trust are OCC-regulated institutions, aligning incentives around compliance, risk management, and supervisory expectations. This shared regulatory perimeter is positioned as a competitive advantage in the crowded stablecoin market.
Technical stack and scalability for institutions
On the technology side, BitGo is contributing a battle-tested institutional blockchain stack to support minting, burning, and transactions of SoFiUSD. Moreover, that stack includes custody with robust access controls and embedded compliance features tailored for 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 payments or treasury products. In this context, the sofiusd stablecoin is framed as an institutional-grade building block rather than a purely retail product.
Global scalability is central to the roadmap. BitGo expects its infrastructure to support high-throughput issuance and transfers as demand grows, particularly across exchanges, settlement networks, and cross-border payment corridors. That said, real-world adoption will depend on integration timelines and regulatory clarity in key jurisdictions.
Signaling a new phase for regulated stablecoins
SoFiUSD marks a notable step in connecting insured banking with always-on blockchain rails. Together, BitGo and SoFi argue that they are setting a higher standard for trust through regulatory alignment, as both BitGo Bank & Trust and SoFi Bank, N.A. remain under OCC supervision.
The collaboration goes beyond pure technical enhancement, offering a level of public transparency and oversight that could signal the maturation of stablecoins within the global financial system. Moreover, it may intensify competition among issuers seeking similar partnerships with regulated banks.
BitGo: from custody pioneer to infrastructure provider
BitGo (NYSE: BTGO) has evolved from early crypto custody pioneer to a broad-based digital asset infrastructure provider. Since 2013, the company has focused on accelerating the shift of the financial system toward a digital asset economy, building services used by both native crypto firms and traditional institutions.
Today, BitGo offers institutional custody, wallets, staking, trading, financing, stablecoins, and settlement services, largely anchored in regulated cold storage. Moreover, the group operates multiple regulated entities, including BitGo Bank & Trust, National Association, recognized 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 worldwide. For further corporate and product details, the company directs interested parties to its website at 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 latest disclosure, 13.7 million members use SoFi to borrow, save, spend, invest, and protect their money.
Members can also buy, sell, and hold crypto within a single app while accessing financial planners, exclusive experiences, and a large community. Moreover, SoFi’s technology platform Galileo is used by fintechs, financial institutions, and brands to build and manage innovative financial solutions across 128 million global accounts.
SoFi’s move into bank-issued stablecoins via SoFiUSD complements its existing digital banking and investing offerings, extending its reach deeper into blockchain-based financial infrastructure. For more information, SoFi directs users to www.sofi.com or its 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 blend insured deposits, strong oversight, and institutional-grade crypto infrastructure.
Source: https://en.cryptonomist.ch/2026/03/05/sofiusd-stablecoin-infrastructure/
