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.

Note: BitGo Express and the JavaScript SDK enable client-side signing, ensuring your private keys never leave your infrastructure during minting or redeeming operations. This architecture enables you to securely execute transactions while BitGo provides the necessary co-signature without ever accessing your private keys.

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