BitGo to Provide Custodial Services for StableX’s $100 Million “Stablecoin Program”
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BitGo to Provide Custodial Services for StableX’s $100 Million “Stablecoin Program”
According to Cointelegraph, BitGo will provide custody and trading services for StableX Technologies’ digital asset portfolio, which plans to acquire up to $100 million worth of stablecoin-related crypto tokens. Per the announcement, BitGo Bank & Trust, N.A. will serve as the custodian for StableX’s digital asset holdings, while BitGo’s trading platform will assist in executing the acquisition plan via its over-the-counter (OTC) liquidity desk. StableX (SBLX), a Nasdaq-listed company focused on stablecoin infrastructure and related technologies, saw its stock rise as much as 9% intraday following the news and close up 1.6%. StableX previously announced plans to purchase tokens including FLUID and Chainlink’s LINK.
Navigating Web3 tides with focused insightsTechFlow News, March 11: According to a Cointelegraph report, BitGo will provide custody and trading services for StableX Technologies’ digital asset portfolio, as the latter plans to acquire up to $100 million worth of stablecoin-related crypto tokens.
Per the announcement, BitGo Bank & Trust, N.A. will serve as the custodian for StableX’s digital asset holdings, while BitGo’s trading platform will assist in executing the acquisition plan via its over-the-counter (OTC) liquidity desk. StableX (SBLX), a Nasdaq-listed company focused on stablecoin infrastructure and related technologies, saw its stock price surge nearly 9% intraday following the news and close up 1.6%.
StableX has previously announced plans to purchase tokens including FLUID and Chainlink’s LINK.
