As a seasoned researcher with a keen interest in blockchain technology and decentralized finance (DeFi), I am thrilled to see Core Foundation partnering with BitGo, a move that underscores the maturing of Bitcoin DeFi (BTCfi) landscape. My experience has taught me that such collaborations are crucial for the growth and mainstream adoption of innovative technologies like these.
In partnership with BitGo, Core Foundation is improving the Decentralized Finance sector of Bitcoin, providing a secure, scalable platform for institutional investors to earn high returns through staking.
The organization known as Core Foundation, which supports the extensive Bitcoin DeFi platform named Core, has recently formed a partnership with BitGo – a pioneer in digital asset safekeeping and financial solutions. This strategic alliance is a significant step forward for Bitcoin DeFi (BTCfi). Starting today, BitGo will be the initial custodian to offer institutional access to Core’s Dual Staking feature. By doing so, institutions can now generate returns, or yield, on their Bitcoin investments at an expansive level.
The integration offers institutional clients a secure method for Bitcoin staking. In other words, clients can utilize BitGo’s trusted custody platform to deposit their Bitcoins and earn CORE tokens as rewards. This strategy enables institutions to generate returns that are flexible in terms of scale and tiered, while minimizing risks such as slashing, credit, counterparties, or smart contract issues. Notably, Core blockchain is currently the one with the fastest growth rate among the top 15 blockchains, boasting a TVL (Total Value Locked) of over $1 billion, according to DefiLlama.
Rich Rines, an early contributor at Core, emphasized the significance of the business connection. He referred to the occasion as a significant milestone for institutional Bitcoin staking. This alliance aims to combine Core’s robust and adaptable systems with BitGo’s secure custody services. Bitcoin is now stepping into a fresh era of decentralized finance due to this new phase.
BitGo and Core Partnership Enhances Secure Bitcoin Staking
The integration offers evident advantages. By utilizing BitGo’s custody services, institutions can securely store their Bitcoin and CORE tokens while earning a reasonable return. Core’s Dual Staking stands out among competitors for delivering substantial returns to investors while minimizing risk to their stake. Furthermore, Core’s solutions ensure that Bitcoin holders maintain full control over their funds at all times, aligning with the platform’s emphasis on security.
Mike Belshe, CEO of BitGo, emphasized the significance of the partnership. He stated that it provides additional opportunities for institutional clients to generate returns on their bitcoin securely. As the first qualified custodian in the U.S., BitGo is introducing the Core’s Dual Staking model, which addresses the growing demand for substantial investment products.
The Core ecosystem has been thriving and consistently advancing. It currently boasts over $900 million in Total Value Locked (TVL), more than 100 decentralized applications (dApps), and approximately half a million weekly active wallets. Founded in July 2020, Core has processed 319 million transactions, demonstrating its effectiveness in the realm of Bitcoin DeFi.
To conclude, our partnership will be showcased at the Bitcoin Fusion MENA event on December 10, 2024, in Abu Dhabi. You can find us at Booth M-120 where we’ll demonstrate how the integration enables high-grade bitcoin earnings.
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2024-12-12 16:10