The project, which also claims Tether's Paolo Ardoino as an investor, aims to enhance stablecoin adoption through a Bitcoin sidechain that allows zero-fee USDT transactions.
The firms are driven by compelling mutual benefits: Galaxy gains extra staking business and BitGo customers are able to use staked assets as collateral for loans and trading.
The Swiss banking giant, which has been experimenting with blockchain, tapped the layer-2 firm to test whether it could scale its current Key4 Gold program.
Movement was reportedly one of the teams the Department of Government Efficiency representatives held conversations with about blockchain being used for government operations.