UstarPay, a payments platform that integrates digital assets with card-based spending, has selected BitGo Bank & Trust, N.A. to provide regulated custody infrastructure for assets supporting its payment and card services. BitGo Bank & Trust is chartered and supervised by the Office of the Comptroller of the Currency (OCC), positioning it as an institutional-grade custodian for digital asset platforms seeking regulatory compliance and security safeguards.
- Regulatory Status: BitGo Bank & Trust is OCC-regulated and chartered as a digital asset trust bank
- Insurance Coverage: Up to $250 million in custody insurance, subject to policy terms
- Security Features: Offline cold storage, distributed key management, and multi-party authorization controls
- Audit Standards: Independent SOC 1 and SOC 2 Type 2 audits
The partnership allows UstarPay to outsource digital asset safekeeping rather than building proprietary custody systems. BitGo‘s infrastructure enables the platform to focus on payment services and user experience while maintaining segregated custody arrangements that keep customer assets separate from the custodian’s own holdings. The arrangement also provides governance controls and authorization processes needed to move digital assets across wallets, payment services, and card-based spending systems.
BitGo serves thousands of institutional clients, including exchanges, fintech platforms, and financial service providers. The custody relationship demonstrates an emerging model in which regulated custodians provide foundational infrastructure for payment platforms seeking to bridge digital assets with everyday financial transactions. Fintechs and payment providers increasingly require this separation of concerns, delegating asset safekeeping to specialized regulated entities while focusing development resources on consumer-facing services.
BitGo, founded in 2013, operates multiple regulated entities globally and provides custody, wallets, staking, trading, financing, and settlement services from regulated cold storage.
