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StableX Technologies Inc. (SBLX) announced a partnership with BitGo to provide custody and trading services for its digital asset holdings. BitGo Trust Company will serve as the institutional custodian for StableX’s digital assets, offering regulated cold storage and compliance oversight.
The partnership supports StableX’s plan to invest up to $100 million in tokens related to the stablecoin industry. BitGo’s trading platforms will facilitate StableX’s crypto asset acquisitions through the company’s over-the-counter desk.
"Partnering with BitGo ensures that our digital asset operations are anchored in the highest standards of institutional security and compliance," said James Altucher, StableX’s Digital Treasury Asset Manager.
Mike Belshe, CEO and Co-founder of BitGo, stated that the company provides infrastructure for digital asset treasury strategies across the industry.
StableX Technologies, formerly AYRO Inc., focuses on acquiring and developing stablecoin assets and related technologies. The company trades on the Nasdaq stock exchange.
BitGo, founded in 2013, provides digital asset infrastructure services including custody, wallets, trading and settlement services. The company serves institutional clients and operates multiple regulated entities globally.