BitGo Partners with StableX to Support $100M Crypto Treasury Plan
BitGo will custody and trade digital assets for StableX’s $100 million stablecoin-focused treasury plan.Summary
BitGo has partnered with StableX Technologies to provide custody and trading services for a planned $100 million digital asset treasury. BitGo Trust Company will act as the custodian, and its trading platforms will facilitate acquisitions through its over-the-counter desk. StableX (SBLX), a publicly traded company focused on stablecoin infrastructure, saw its stock rise following the announcement. BitGo’s Chen Fang highlighted the partnership as a sign of growing institutional demand for custody infrastructure beyond Bitcoin, specifically within the stablecoin ecosystem. StableX has already begun acquiring tokens like FLUID and Chainlink’s LINK. The broader stablecoin market has a capitalization exceeding $314 billion, attracting investment in supporting infrastructure, as evidenced by new ETFs and benchmarks focused on the sector.
(Source：Cointelegraph)