Stablecoin Overview

Overview

Stablecoins are blockchain-based tokens backed by fiat-denominated collateral. Stablecoins are issued and redeemed through controlled minting and burning operations that preserve a 1:1 relationship between circulating tokens and their backing reserves.

Using your Go Account, you can hold fiat currency, enabling you to mint and burn stablecoins.

• Minting - Fiat currency deposits into a Go Account, enabling minting of stablecoin tokens. The minted tokens are issued to the associated Go Account or whitelisted wallet.
• Redemption - Stablecoin tokens are removed from circulation when someone redeems their tokens for fiat currency. The redemption process triggers a burning event that destroys the tokens, redeeming fiat currency into the user's Go Account.

Policy Rules

Policy rules are customizable security measures that you can tailor to best fit the unique needs of your enterprise. All mint and burn orders are subject to your enterprises policies defined in the enterprise policy settings. Mint or burn orders may be delayed if the required policy conditions have not been fulfilled. See our Policy Overview for more information.

As a security measure, BitGo locks all policies 48 hours after you create them. To modify an existing locked policy, contact [email protected].

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Note

BitGo Express or JavaScript SDK is required for Go Account transfers. You can install BitGo Express via npm or Docker. BitGo recommends Docker to run BitGo Express as it ensures continuous feature parity and security updates.

Prerequisites

1. Get Started
   • Install SDK or Install BitGo Express.
   • Create Access Tokens
2. Create Go Account
3. Add Wallet User
   • User needs Spend permissions.
4. Fund Go Account

Steps

1. Mint Stablecoins
2. Burn Stablecoins

See Also

• API Reference: List Available Assets
• Policy Overview