Crypto infrastructure company BitGo named issuer for FYUSD stablecoin
The GENIUS Act-compliant stablecoin is geared toward institutional investors in Asia features a programmable layer for agentic AI commerce.
Digital asset company New Frontier Labs has partnered with BitGo Bank & Trust National Association, the entity that crypto infrastructure company BitGo will use to issue and provide custodial services for the FYUSD stablecoin, a dollar-pegged token for Insitutional investors in the Asia region.
BitGo’s announcement said FYUSD is compliant with the GENIUS Act stablecoin regulatory framework. The regulations include 1:1 backing with cash deposits held by a custodian or short-term US government debt instruments, anti-money laundering (AML) requirements and know-your-customer (KYC) checks.
The company also developed “Fypher,” a suite of stablecoin infrastructure tools that provides a “programmable settlement” layer for the FYUSD token that allows it to be used by autonomous AI agents for commercial transactions.