BitGo Becomes Custodian For FYUSD Stablecoin

BitGo is selected as custodian for FYUSD stablecoin.

BitGo has a role in both the issuance and custody of reserves for FYUSD, which is aimed at local institutions and for settlement and liquidity (pre-release). The company dates to 2013 and offers other services for institutional staking, prime brokerage, as well as capital formation.

FYPHER in collaboration with New Frontier Labs, frames its ultimate stablecoin strategy to become the go-to-choice for regional stablecoin transfers and regulatory regimes developing across Asia.

Head of Business at New Frontier Labs Lucas Yi expressed:

"FYUSD is more than a stablecoin—it is built to operate on a programmable settlement layer for the next generation of financial services. With BitGo's infrastructure, we are launching what we describe as 'Stablecoin 2.0,' laying the groundwork for Agentic Commerce where AI-driven systems can execute financial transactions autonomously using a secure and compliant digital dollar."

Just last month, BitGo successfully launched its IPO at the NYSE (New York Stock Exchange). Its stock is currently trading at $10, slightly down from the $18 entry. BitGo notably acts as primary custodian and issuer for the USD1 stablecoin operated by World Liberty Financial.

The company was also named as part of applicants who received a conditional OCC (Office of the Comptroller of the Currency) approval to become a licensed bank charter.