Key Points
- BitGo and Core Foundation have partnered to revolutionize institutional Bitcoin investments.
- The collaboration introduces a secure solution to unlock yield from Bitcoin’s $2 trillion untapped liquidity.
BitGo, a US-based digital asset custody firm, and Core Foundation, a nonprofit organization overseeing the development of the Core blockchain, have announced a significant partnership. This alliance aims to transform institutional investments in Bitcoin.
The partnership, announced on December 9, has introduced a secure and scalable solution for institutions to tap into Bitcoin’s vast $2 trillion untapped liquidity.
Enabling Secure Institutional Bitcoin Yield
The newly introduced solution utilizes Core Foundation’s innovative Dual Staking model. This model allows institutions to earn rewards by staking their Bitcoin and CORE tokens. It also introduces the first-ever “risk-free rate” for Bitcoin, supported by transaction fees and long-term rewards built into Bitcoin’s blockchain.
Through BitGo’s integration, institutions can securely stake their assets without compromising security. This enables them to access tiered yield opportunities and unlock new revenue streams.
As a US-qualified custodian, BitGo is responsible for protecting users’ assets. The company will ensure that staking activities are conducted with the highest level of security, eliminating risks like asset slashing, counterparty exposure, or smart contract vulnerabilities.
Rich Rines, an Initial Contributor at Core Foundation, described the partnership as a significant milestone for the Bitcoin DeFi ecosystem.
Maximizing Bitcoin’s Potential
Mike Belshe, BitGo’s CEO, views the integration with Core as part of the company’s commitment to providing investors with secure ways to maximize the value of their Bitcoin holdings.
The partnership will be highlighted at Bitcoin Fusion MENA, a global blockchain event on December 10, 2024, in Abu Dhabi. Core Foundation will showcase the new Dual Staking model at Booth M-120, offering a closer look at how this collaboration is redefining Bitcoin finance.
Core is one of the many Bitcoin-powered networks built to leverage the Bitcoin hash rate and the delegated proof-of-stake (DPoS) consensus mechanism to create a secure, scalable, and decentralized blockchain.
The protocol has established itself as a leader in the Bitcoin DeFi space. With over $1 billion in total value locked (TVL) and a vibrant ecosystem of more than 100 decentralized applications, Core continues to drive innovation.
The platform supports over 500,000 active wallets weekly and has facilitated 319 million transactions to date.
