SoFi chooses BitGo to power SoFiUSD bank-issued stablecoin infrastructure in the United States

SoFi Technologies has appointed BitGo to provide infrastructure for SoFiUSD, a U.S. dollar-pegged stablecoin issued by SoFi Bank. Under the agreement, BitGo’s stablecoin-as-a-service platform will support issuance and connectivity to payment providers and crypto exchanges. SoFiUSD is described as the first stablecoin from a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain.