BitGo Trust will now provide custodial services to Cardano’s stablecoin USDA. The announcement comes from Anzens Inc., the USDA stablecoin issuer; EMURGO, the technology provider that works with the Anzens Inc. platform; and BitGo Trust, the industry-leading qualified custodian for digital assets serving international clients.
The three organizations have facilitated this partnership by integrating their financial frameworks. Currently, decentralized finance applications and protocols are created within the Cardano blockchain, and thus, a safe, reserved, and cardano-native stablecoin has been necessary. Anzens solution does just that. It allows businesses and customers to bridge the gap between traditional banking, financial services, and crypto economies.
“Integrating with such a well respected Qualified Custodian such as BitGo provides Anzens with a trusted and reputable partner to support the USDA infrastructure, ensuring streamlined and compliant onboarding of Anzens users, mitigating operational risks when minting, facilitating burning, as well as providing custodial services, to bring USDA to the market in the most secure and streamlined way possible,” quoted the CEO of Anzens Inc, Shantnoo Saxena.
Azens users are one of the first clients to leverage BitGo Trust’s new offerings, which will enable the use of individual accounts, which help maintain the safety of customer funds and are distinct from company funds. This segregation of funds allows BitGo Trust to ensure the security and protection of the user funds.
Frank Wang, the Executive Director at BitGo, expressed his pleasure to be a member of the launch team of USDA of Cardano Blockchain. On the other hand, EMURGO Fintech’s MD Vineeth Bhuvanagiri said, “The collaboration with BitGo highlights our ability to deliver advanced infrastructure. Our tech team has engineered a solution that meets the rigorous demands of an institutional regulated custodian like BitGo Trust, further proving our commitment to building tools that deliver real-world value.”
