BitGo has expanded its Go Accounts platform to include USDC minting and redemption capabilities for eligible institutional clients. The feature is available through BitGo Bank & Trust, a subsidiary regulated by the Office of the Comptroller of the Currency.
Institutions that already custody and trade digital assets with BitGo can now create and retire USDC tokens without leaving the platform, streamlining stablecoin workflows for market makers, asset managers, and banks.
How the Service Works
Clients deposit fiat currency into their Go Account to fund the creation of new USDC tokens. Redemption operates in reverse, with clients sending USDC to be burned on-chain, permanently destroying the tokens and returning their dollar value.
Orders can be placed and tracked through the BitGo platform or via API. The API integration allows trading firms to embed minting and redemption directly into their automated systems.
Average fulfillment times are under 30 minutes for mints and under two hours for burns, though actual timing depends on transaction volume and compliance requirements.
Go Accounts Features
Go Accounts support both fiat and digital assets with off-chain ledgering, allowing some fund movements to be recorded on BitGo's internal books rather than broadcast to a blockchain. The service includes insurance coverage of $250 million when BitGo retains custody of keys.
BitGo maintains validation and reconciliation procedures for eligible clients minting USDC.
Regulatory Framework
The federal banking oversight distinguishes this service from unregulated intermediaries. BitGo Bank & Trust is a nationally chartered bank supervised by the OCC, placing minting and redemption activity within a federally regulated entity.
BitGo Holdings, Inc. trades on the New York Stock Exchange under the ticker BTGO and was founded in 2013.
