BitGo will provide custody and trading services for StableX Technologies’ digital asset treasury as it plans to acquire up to $100 million in crypto tokens tied to the stablecoin sector.
According to Tuesday’s announcement, BitGo Trust Company will serve as the custodian for StableX’s digital asset holdings, while BitGo’s trading platforms will help execute the company’s planned acquisitions through its over-the-counter liquidity desk.
StableX (SBLX) is a publicly traded company focused on stablecoin infrastructure and related technologies. Shares of the Nasdaq-listed company gained as much as 9% in afternoon trading following the news, before closing up 1.6%.
Chen Fang, chief revenue officer at BitGo, told Cointelgraph that the “partnership underscores BitGo’s expanding role as the go-to infrastructure provider for a new wave of publicly traded companies building digital asset treasury strategies.” He added:
“The StableX deal is notable because it goes beyond Bitcoin-centric treasury strategies. It signals demand for institutional custody infrastructure around stablecoin ecosystem tokens.”
StableX has already begun building its digital asset treasury, previously announcing purchases of tokens including FLUID and Chainlink’s $LINK ($LINK) in October.
BitGo, a digital asset infrastructure company founded in 2013, provides custody, trading and other services for institutional crypto clients. The company went public on the New York Stock Exchange in January, pricing its shares at $18 in its initial public offering.
The stock rose about 25% on its first day of trading before reversing course and later falling below its IPO price. The NYSE-traded shares closed up more than 11%.
Source: Yahoo Finance
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Investment products target stablecoin infrastructure
Interest in the stablecoin sector has grown as the total stablecoin market capitalization has climbed to more than $314 billion, according to the latest DefiLlama data. Though dedicated investment products remain limited, some investors are beginning to focus on the infrastructure that supports these tokens.
In September, Bitwise filed with the US Securities and Exchange Commission to launch a Stablecoin & Tokenization ETF designed to track companies and digital assets tied to the stablecoin and tokenization sectors.
The proposed exchange-traded fund would follow an index composed of companies involved in stablecoin issuance, infrastructure, payments and exchanges, alongside crypto assets such as Bitcoin (BTC) and Ether (ETH).
Stablecoin market cap. Source: DefiLlama
In January, MarketVector Indexes also launched benchmarks focused on stablecoin and real-world asset tokenization infrastructure, which underpin two exchange-traded funds from Amplify ETFs: the Amplify Tokenization Technology ETF (TKNQ) and the Amplify Stablecoin Technology ETF (STBQ).
Several stablecoin issuers are also publicly traded companies. Circle issues the USDC stablecoin, the second-largest dollar-pegged token in circulation, while PayPal launched its PayPal USD stablecoin (PYUSD) in 2023 to support blockchain-based payments and settlement.
Western Union, one of the world’s largset remittance providers, recently announced its planned stablecoin settlement system will run on Solana and include a US Dollar Payment Token (USDPT), which the company expects to launch in the first half of 2026.
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