Falcon Finance, a synthetic dollar protocol backed by DWF Labs, is teaming up with BitGo, a leading digital asset custodian, to bring secure custody to its USDf stablecoin.
Enhanced Security and Access for USDf
This partnership will allow institutional investors to hold USDf in BitGo’s secure wallets. This significantly improves access to Falcon Finance’s yield-generating ecosystem. USDf is backed by collateral, including USD1, a fiat-backed stablecoin held in BitGo custody, ensuring transparency and auditability.
What the Partnership Means
Andrei Grachev, Managing Partner at Falcon Finance, highlighted the growing need for regulated infrastructure in the synthetic dollar space. He emphasized that BitGo’s custody services provide the necessary trust and compliance for institutional users.
Mike Belshe, CEO of BitGo, praised Falcon Finance’s approach to designing USDf, emphasizing its overcollateralization and auditable reserves. He sees this integration as a key step towards bringing compliant, yield-generating stablecoins into the mainstream financial system.
Future Plans
Beyond secure custody, Falcon Finance and BitGo are planning to add:
- USDf Staking: Users will be able to stake USDf via the ERC-4626 standard.
- Fiat Settlement: Seamless fiat transfers and on/off-ramp capabilities will be enabled through BitGo’s Go Network.
These additions aim to further boost the adoption of USDf among institutional investors. Future phases will include additional Go Network settlement solutions, improved USD settlement and collateral management.
About Falcon Finance and BitGo
Falcon Finance: A next-generation synthetic dollar protocol offering a sustainable yield and robust risk management.
BitGo: A leading provider of digital asset solutions, offering custody, wallets, staking, and more, serving thousands of institutional clients globally.
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