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Investing.com -- StableX Technologies, Inc. (NASDAQ:SBLX) stock rose 20% after announcing a strategic partnership with BitGo to secure and manage its $100 million digital asset treasury strategy.
The company revealed that BitGo Trust Company will serve as the institutional-grade custodian for StableX’s digital asset holdings, providing regulated cold storage and compliance oversight. Additionally, BitGo’s affiliated trading platforms will support StableX’s planned acquisitions of various crypto assets through its OTC desk.
This partnership follows StableX’s recent announcement to invest up to $100 million in tokens powering the stablecoin industry. The collaboration aims to strengthen security, transparency, and scalability of the company’s digital asset treasury operations.
"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. "This is a pivotal step in executing our growth strategy-one that allows us to responsibly manage digital assets while capitalizing on the long-term opportunities in the stablecoin ecosystem."
Mike Belshe, CEO and Co-founder of BitGo, noted that the company is "excited to provide the infrastructure that keeps forward-looking strategies, like StableX’s, safe and compliant."
The partnership reinforces StableX’s commitment to building a diversified digital asset treasury designed to generate long-term value for shareholders.
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