BitGo Named Issuer of FYUSD, Bringing U.S.-Aligned Stablecoin Standards to Asia
New Frontier Labs LLC, a digital asset company developing the Fypher project, today announced a strategic partnership with BitGo Bank & Trust, National Association ("BitGo"), the digital asset infrastructure company, under which BitGo will act as the issuer and primary custodian of FYUSD, a U.S. dollar-backed stablecoin designed for institutional adoption in Asian markets.
The partnership marks an important step in extending U.S.-grade regulatory and custody standards into Asia's rapidly developing digital asset ecosystem. FYUSD is structured in alignment with the GENIUS Act framework and is intended to provide institutional users with a dollar-backed stablecoin that emphasizes transparency, reserve protection, and operational compliance.
Bridging U.S. Regulatory Standards with Asian Market Growth
As Asian jurisdictions including Hong Kong, Singapore, and Japan advance regulatory frameworks for stablecoins, FYUSD is positioned to deliver a regionally adapted, institution-ready dollar-backed stablecoin. Unlike general-purpose stablecoins, FYUSD is designed to integrate with the financial infrastructure of Asian banks and fintech platforms.
"BitGo supports institutional stablecoin initiatives by providing regulated issuance and infrastructure," said Chris Park , Head of Commercial Strategy, BitGo Korea. "As issuers of FYUSD, BitGo is delivering the operational framework required for institutional use across multiple jurisdictions."
The Vision: Stablecoin 2.0 and Agentic Commerce
As part of the launch, New Frontier Labs developed Fypher, a complete suite of modular stablecoin infrastructure with FYUSD at its core. Fypher has a dual mission: to provide a regulation-aligned US dollar-backed stablecoin for Asia and to reinvest a portion of the ecosystem's economic value into the regional financial ecosystem.
"FYUSD is more than a stablecoin—it is built to operate on a programmable settlement layer for the next generation of financial services," said Lucas Yi, Head of Business at New Frontier Labs. "With BitGo's infrastructure, we are launching what we describe as ‘Stablecoin 2.0,' laying the groundwork for Agentic Commerce where AI-driven systems can execute financial transactions autonomously using a secure and compliant digital dollar."
Key Pillars of the BitGo–New Frontier Partnership
- Regulated Issuance: BitGo will provide issuance infrastructure aligned with U.S. regulatory standards outlined in the GENIUS Act.
- Institutional Custody: FYUSD reserves will be held in segregated, bankruptcy-remote custody structures.
- Institutional Interoperability: FYUSD is designed for integration with enterprise APIs, banking systems, and regulated financial workflows.
About New Frontier Labs, Fypher, and FYUSD
Fypher is a next-generation stablecoin and digital settlement initiative developed by New Frontier Labs, focused on building regulation-aligned digital dollar infrastructure for Asian markets. FYUSD is Fypher's U.S. dollar-backed stablecoin designed for institutional and enterprise use across the Asian stablecoin ecosystem. For more information, please visit https://fypherusd.com.
About BitGo
BitGo (NYSE:BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, a federally chartered digital asset trust bank. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com.
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