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BitGo, a digital asset infrastructure company, has announced a strategic partnership with StableX Technologies, Inc. (Nasdaq: SBLX), a publicly traded company focused on the acquisition and development of stablecoin assets, infrastructure and related technologies.
Under the partnership, BitGo Trust Company, Inc. will serve as the institutional-grade custodian for StableX's digital assets, whilst BitGo's affiliated trading platforms will work to facilitate StableX's planned acquisitions of various digital assets, providing access to deep liquidity via its OTC desk.
The collaboration follows an announcement by StableX of its goal to purchase $100 million in crypto tokens powering the stablecoin industry.
Mike Belshe, CEO and Co-Founder at BitGo, said:
Digital asset treasury companies are expanding into increasingly diverse asset allocations. BitGo is excited to provide the infrastructure that is designed to keep forward-looking digital asset strategies, like StableX's, safe and compliant.
Joshua Silverman, Executive Chairman of StableX, commented:
BitGo was the clear choice because it supports our focus on solid financial management and pioneering innovation. By using a regulated, institutional-grade custodian, we're not only improving our risk management but also positioning ourselves to responsibly leverage new opportunities in the crypto economy. This is a critical step in creating sustainable, long-term value for our shareholders.
The partnership is designed to accelerate innovation and diversify StableX's treasury with alternative assets. By integrating BitGo's secure infrastructure and market access, StableX aims to enhance its crypto management capabilities whilst pursuing opportunities in decentralised finance.
BitGo is a digital asset infrastructure company, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since its founding in 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and millions of investors.
StableX Technologies, Inc. is a publicly traded company focused on the acquisition and development of stablecoin assets, infrastructure and related technologies. The company aims to deliver sustainable long-term returns by capitalising on the expanding role of stablecoins in global commerce and finance.
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