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- Core partners with BitGo to enable secure, scalable Bitcoin staking for institutional clients through Dual Staking technology.
- The collaboration establishes a milestone in Bitcoin DeFi by combining Core’s innovative staking model with BitGo’s custody services.
The Core Foundation, the organization behind Core, the largest Bitcoin DeFi ecosystem, has announced a partnership with BitGo. For Bitcoin DeFi (BTCfi), this partnership marks a major turning point since BitGo becomes the first custodian providing institutional access to Core’s creative Dual Staking model.
By means of this collaboration, institutional clients can generate scalable Bitcoin yields while preserving the security and trustlessness defining the Bitcoin blockchain.
Secure Bitcoin Staking for Institutional Clients
BitGo’s integration with Core presents a safe environment for Bitcoin staking specifically for institutional clients. Clients can timelock their Bitcoin and stake CORE tokens straight from BitGo’s certified custody platform using Core’s Dual Staking model.
This method unlocks scalable, tiered yields without exposing clients’ main assets to risks including slashing, credit defaults, counterparty difficulties, or smart contract flaws.
“BitGo’s choice to incorporate Core marks a turning point for institutional-grade Bitcoin staking,” stated Rich Rines, an initial contributor to Core.
“We are launching a new era of Bitcoin DeFi by combining Core’s scalable, sustainable, and safe staking solutions with BitGo’s unmatched custody services.”
Core’s Ecosystem Expansion with Institutional Support
With its native token, CORE, already among the fastest-growing chains, currently placed in the top 15 by DefiLlama, Core has quickly become known as the leading Bitcoin-aligned ecosystem. Comprising over $1 billion in total value locked (TVL), the ecosystem is still expanding with strong activity—319 million transactions and more than 500,000 weekly active wallets since its founding.
By providing reliable custody options and unlocking sustainable rewards, its interaction with BitGo is intended to improve its attraction to institutional investors.
“BitGo’s integration with Core highlights our dedication to providing institutional clients with means to safely generate yield from their Bitcoin holdings,” stated Mike Belshe, CEO of BitGo.
“As the first U.S.-qualified custodian to enable access to Core’s inventive Dual Staking model, we’re delivering scalable and sustainable solutions that align with Bitcoin’s security-first principles while unlocking new value for institutions.”
Staking Innovation and Future Upgrades
Through the use of transaction fees and block rewards expected to endure another 81 years, Core’s creative staking solutions also establish Bitcoin’s “risk-free rate.”
Core has released billions in once passive Bitcoin value from already staking over 5,300 BTC. Core’s dedication to security, which is reinforced by 75% of Bitcoin’s hash power via miner involvement, helps to improve this staking paradigm.
Apart from this alliance, the November 2024 Fusion Upgrade from Core Foundation seeks to intensify the connection between Core and Bitcoin. With Dual Staking and Liquid Bitcoin Staking (LstBTC), this update gives even more dynamic and profitable options for users.
Core’s rapid acceptance, underlined by its milestone of 20 million distinct addresses in the middle of this year as reported by CNF, shows its increasing power in the blockchain ecosystem.
Core’s native coin, CORE, stays central for its development even when it changes. Though it has lately had a minor correction, CORE, which is currently trading at about $1.43, has seen a 57.63% hike over the last 30 days.
