BitGo, a leading digital asset infrastructure firm, has entered into a strategic partnership with StableX Technologies, Inc. (Nasdaq: SBLX), a publicly traded company specializing in stablecoin assets and digital finance infrastructure. Under the agreement, BitGo Trust Company will serve as the institutional-grade custodian for StableX's digital asset holdings, while BitGo's affiliated trading platforms will facilitate StableX's planned acquisitions and asset diversification strategy.
The collaboration aims to support StableX's goal of purchasing $100 million worth of crypto tokens connected to the rapidly expanding stablecoin sector. BitGo will provide regulated custody, liquidity, and execution services, including cold storage custody, institutional wallets, and integrated trading solutions. Mike Belshe, Co-Founder and CEO of BitGo, emphasized the partnership's role in advancing digital asset treasury management: "Digital asset treasury companies are expanding into increasingly diverse asset allocations. BitGo is excited to provide the infrastructure that is designed to keep forward-looking digital asset strategies, like StableX's, safe and compliant."
StableX, which rebranded from AYRO on August 25, 2025, with a Nasdaq ticker change to "SBLX," has shifted its focus from vehicle manufacturing to digital asset investments. As part of its initial moves, StableX acquired FLUID tokens on September 9, 2025—a decentralized exchange focused on stablecoin liquidity that handles nearly a third of all stablecoin swaps and generates significant monthly transaction fees. Joshua Silverman, Executive Chairman of StableX, highlighted the importance of compliance: "BitGo was the clear choice because it supports our focus on solid financial management and pioneering innovation. By using a regulated, institutional-grade custodian, we're not only improving our risk management but also positioning ourselves to responsibly leverage new opportunities in the crypto economy."
The partnership enhances StableX's risk management and governance, leveraging BitGo's regulated trust status across multiple jurisdictions. It also grants StableX access to BitGo's over-the-counter trading desk for deep market liquidity, supporting diversification into DeFi-oriented tokens and aligning with growth areas in stablecoin infrastructure and yield generation.
