BitGo adds USDC minting and redemption to Go Accounts

BitGo announced Thursday that it has added USDC minting and redemption capabilities to its Go Accounts, a service available to eligible customers of BitGo Bank & Trust. The subsidiary operates under the regulatory oversight of the Office of the Comptroller of the Currency. Clients can initiate and monitor orders via the platform or API, with BitGo routing transactions through its Circle Mint account. This expansion follows the initial launch in April, which supported World Liberty Financial’s USD1 and SoFi Bank’s SoFiUSD.

One Account for Multiple Issuers

The core benefit is consolidation. "The more assets an institution uses, the more work it takes to manage separate accounts and issuer relationships," BitGo CEO Mike Belshe said. By building on existing infrastructure, institutions access more assets through one BitGo account rather than managing distinct relationships for each stablecoin issuer. BitGo charges flat fees that clients see before confirming any transaction, providing cost transparency upfront.

However, fiat funding and withdrawals still require clients to work within applicable banking processing windows and settlement times, a constraint that limits the speed of off-chain movements. Onchain components process 24/7 subject to network availability and account controls, but the bank rails remain the bottleneck for cash in and out.

Supported Networks and Recent Moves

USDC support spans Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche, HyperEVM, Monad, and Aptos, though availability depends on jurisdiction and specific account requirements. This broad network coverage allows institutions to deploy stablecoins across multiple chains without switching providers. The news arrives shortly after BitGo Global Markets launched last week, led by former NYDIG executive Pete Janney. That division provides institutional trading services including crypto-backed financing, options, and swaps. BitGo acquired NYDIG’s institutional trading business on Aug. 27, bringing about 30 employees into the fold. These moves signal a clear push toward becoming a full-service institutional hub, combining custody, minting, and trading under a single roof.