As a seasoned researcher with a keen interest in blockchain technology and digital assets, this partnership between BitGo and Core Foundation is nothing short of groundbreaking. Having closely followed the developments in Bitcoin‘s DeFi ecosystem, I can attest to the potential this collaboration holds for institutional investors.
As a crypto investor, I’m excited about the groundbreaking partnership between BitGo, a leading US-based digital asset custodian, and Core Foundation, the nonprofit organization driving the expansion and advancement of the Core blockchain. Together, they aim to transform the landscape of institutional Bitcoin investments, promising a revolution that could reshape our crypto investing experience.
On December 9th, BitGo announced their new partnership, stating that this collaboration has brought forth a secure and scalable method for institutions to tap into the unrealized liquidity of approximately $2 trillion in Bitcoin.
A Secure Path to Institutional Bitcoin Yield
The novel approach utilizes a groundbreaking Dual Staking system from Core Foundation, enabling institutions to garner returns by depositing their Bitcoin and CORE tokens. This system marks Bitcoin’s debut of a “risk-free rate,” which is sustained by transaction fees and the intrinsic rewards embedded within Bitcoin’s blockchain.
As a researcher, I’ve found that by integrating with BitGo, institutions can ensure the security of their assets while simultaneously tapping into various yield tiers and discovering fresh income sources.
As a trusted custodian in the US, BitGo has been assigned the duty of safeguarding users’ holdings. The recent announcement indicates that they will oversee staking operations with utmost security to minimize threats such as asset forfeiture, potential risks from counterparties, or weaknesses in smart contracts.
Speaking about the partnership, Rich Rines, who was initially involved with Core Foundation, expressed that this collaboration represents a substantial advancement in the Bitcoin Decentralized Finance (DeFi) community.
Integrating Core’s robust, eco-friendly, and scalable staking technology into BitGo marks a significant step forward for institutional Bitcoin staking. By merging Core’s top-tier staking solutions with BitGo’s leading custody services, we are paving the way for a fresh chapter in Bitcoin Decentralized Finance,” he stated.
Unlocking Bitcoin’s Full Potential
According to BitGo’s CEO, Mike Belshe, integrating with Core is a step towards fulfilling the company’s dedication to providing investors with safe methods to optimize the worth of their Bitcoin investments.
By partnering with Core, BitGo demonstrates its dedication to increasing the possibilities for institutional clients to safely earn returns from their Bitcoin investments. As the initial U.S. custodian to facilitate access to Core’s advanced Dual Staking system, we are providing flexible and lasting solutions that adhere to Bitcoin’s emphasis on security, all while opening up new avenues of value for institutions,” he emphasized.
At Bitcoin Fusion MENA, a significant gathering of international blockchain pioneers taking place on December 10, 2024, in Abu Dhabi, the partnership will receive attention. Core Foundation will exhibit its innovative Dual Staking model at Booth M-120, providing attendees with an up-close view of how this collaboration is reshaping Bitcoin finance.
In simpler terms, Core is one of several blockchain networks utilizing Bitcoin’s computational power and a system called Delegated Proof-of-Stake (DPoS) for security, scalability, and decentralization.
The protocol is firmly established among the top players in the Decentralized Finance sector related to Bitcoin. Boasting a staggering total of over $1 billion worth of assets locked (TVL) and hosting over 100 active decentralized apps, Core consistently leads the way in driving innovative solutions.
This platform caters to more than half a million active digital wallets each week and has handled approximately 319 million transactions so far.
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2024-12-09 20:24