StableX Taps BitGo for Custody in Planned $100M Stablecoin Push

TLDR

• BitGo will custody StableX assets and support trading through its OTC desk.

• StableX plans up to $100 million in crypto buys tied to stablecoin infrastructure.

• StableX previously disclosed token purchases, including FLUID and LINK.

• Stablecoin market capitalization has climbed above $314 billion, per DefiLlama.

BitGo will provide custody and trading services for StableX as the company builds a digital asset treasury. The plan targets up to $100 million in crypto acquisitions tied to the stablecoin sector.

The deal points to growing institutional activity around stablecoin infrastructure rather than Bitcoin-only treasury strategies. It also places BitGo at the center of another public company’s crypto treasury plan.

StableX Selects BitGo for Custody and Execution

StableX said BitGo Bank & Trust, N.A. will hold its digital asset treasury. BitGo’s trading platforms will also support purchases through its over-the-counter desk.

StableX is a Nasdaq-listed company focused on stablecoin infrastructure and related technologies. The company has already started building its crypto treasury before this latest arrangement.

Chen Fang, chief revenue officer at BitGo, described the agreement as part of a wider trend. He said the partnership shows demand for custody infrastructure around stablecoin ecosystem tokens.

He added, “The StableX deal is notable because it goes beyond Bitcoin-centric treasury strategies.” That comment placed the focus on stablecoin-linked assets and related infrastructure tokens.

Shares of StableX rose as much as 9% in afternoon trading after the announcement. The stock later closed up 1.6% on the session.

StableX Expands Beyond Traditional Reserve Models

StableX previously disclosed purchases of FLUID and Chainlink’s LINK token in October. Those earlier buys showed that the company had already started building exposure to crypto assets.

The current plan expands that strategy through a larger treasury target tied to the stablecoin sector. The company now aims to acquire as much as $100 million in related digital assets. This approach differs from treasury models centered only on Bitcoin. Instead, StableX is building around tokens linked to stablecoin rails, payments, and onchain market structure.

That makes the news part of a broader move toward specialized crypto treasury strategies. Public companies are now looking beyond simple token exposure and toward sector-based holdings.

StableX’s focus also aligns with growing attention on stablecoin infrastructure. Companies in this segment are tied to settlement, token issuance, liquidity, and blockchain-based payments.

BitGo Builds on its Public Market Position

BitGo, founded in 2013, provides custody, trading, and other services for institutional crypto clients. The company went public on the New York Stock Exchange in January. Its shares were priced at $18 in the initial public offering. The stock rose about 25% on its first trading day before later falling below that IPO level.

The StableX agreement adds another public company client to BitGo’s platform. It also supports BitGo’s effort to serve treasuries that hold more than Bitcoin.

Fang said BitGo is becoming a core infrastructure provider for public firms building crypto treasury strategies. That language framed the company as a service layer for institutional digital asset adoption.

The custody and trading arrangement may help StableX manage execution and asset security more efficiently. These services remain central for companies entering digital asset markets through treasury plans.

Stablecoin Sector Draws More Product Activity

Interest in stablecoins has grown as the market cap climbed above $314 billion, according to DefiLlama data. That growth has increased attention on the companies supporting the sector. In September, Bitwise filed with the US Securities and Exchange Commission for a Stablecoin & Tokenization ETF. The proposed fund would track firms and digital assets linked to stablecoins and tokenization.

MarketVector Indexes also launched benchmarks tied to stablecoin and tokenization infrastructure in January. Those benchmarks now support the Amplify Tokenization Technology ETF and the Amplify Stablecoin Technology ETF.

Several public companies already operate in the stablecoin market. Circle issues USDC, while PayPal launched PYUSD in 2023 for blockchain-based payments and settlement.

Western Union has also announced plans for a stablecoin settlement system on Solana. The company expects to launch its US Dollar Payment Token in the first half of 2026.

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