BitGo is investing in Ubyx and appointing BitGo Bank & Trust as a settlement agent within Ubyx's shared infrastructure, with the collaboration expected to help bolster infrastructure for digital asset transactions.
Ubyx provides clearing and acceptance infrastructure for tokenised deposits and regulated stablecoins, and the partnership positions BitGo B&T as a core settlement partner to move regulated digital assets between issuers and receiving institutions.
"Regulated digital asset infrastructure requires trusted institutional participants who can operate at the intersection of traditional finance and blockchain technology," said Frank Wang, Head of Fintech at BitGo.
"Ubyx is solving a critical structural challenge by enabling multiple issuers and multiple receivers to transact seamlessly while preserving par-value integrity. By joining as a settlement agent and investor, BitGo B&T is supporting the infrastructure necessary for digital assets to scale globally within regulated frameworks."
In Wednesday's announcement, which effectively launches the partnership, the companies describe Ubyx's model as separating network coordination from custody and settlement execution. And, they note that BitGo B&T's status as an OCC-regulated trust bank and BitGo Holdings' position as a publicly listed company help reinforce the approach of anchoring infrastructure in regulated institutions rather than closed ecosystems.
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They also highlight institutional recognition of the need to solve the "many-to-many problem" connecting multiple issuers with multiple receivers.
Tony McLaughlin, Ubyx CEO, added: "BitGo B&T brings deep institutional custody expertise and regulatory credibility to the Ubyx network at a time when banks and financial institutions are moving from digital money pilots to operational deployment... This partnership demonstrates that institutional infrastructure providers recognize the need for shared clearing and acceptance networks as regulated digital assets enter mainstream financial flows."
The recap
BitGo invests in Ubyx and joins as settlement agent
BitGo Bank & Trust, N.A. is an OCC-regulated trust bank
Partnership aims to solve the "many-to-many" connectivity problem