BitGo Trust Company has entered a strategic partnership to provide custody and trading services for stablecoin-focused firm StableX Technologies. The publicly traded company plans to acquire up to $100 million in digital assets tied to the stablecoin sector. Shares of StableX saw a notable intraday gain following the announcement.
BitGo will provide custody and trading infrastructure for StableX Technologies‘ planned digital asset treasury. The partnership supports StableX’s goal of acquiring up to $100 million in crypto tokens focused on the stablecoin sector.
BitGo Trust Company will serve as the custodian for the company’s digital asset holdings. The firm’s trading platforms will execute acquisitions through its over-the-counter liquidity desk.
StableX is a publicly traded company focused on stablecoin infrastructure. Shares of the Nasdaq-listed firm gained as much as 9% in afternoon trading after the news.
The stock closed the session up 1.6%. The partnership was announced on Tuesday. The collaboration centers on securing StableX’s treasury holdings.
