The Core Foundation has announced a partnership with BitGo, a big step forward for Bitcoin DeFi. BitGo is now the first custodian to support Core’s Dual Staking model. Institutions can securely timelock Bitcoin and stake CORE tokens directly from BitGo’s certified custody platform through this integration.
According to the announcement, this innovative solution enables institutions to earn tiered yields while mitigating risks such as slashing, credit defaults, counterparty challenges, and smart contract vulnerabilities. By integrating with Core, BitGo brings a secure and compliant environment for Bitcoin staking to institutional clients.
Dual staking unlocks enhanced Bitcoin yields
Core’s Dual Staking model provides institutions with a new way to boost Bitcoin value. By combining Bitcoin timelocks with CORE token staking, users can access reliable and scalable yield opportunities.
The method is supported by Core’s robust ecosystem, which is secured by 75% of Bitcoin’s hash power. This ensures long-term stability and security for participants.
An Initial Contributor at Core, Rich Rines, highlighted the importance of this development, calling it a milestone in institutional-grade Bitcoin staking. The partnership reflects Core’s commitment to aligning Bitcoin with innovative DeFi solutions, setting a precedent for the broader market.
Scalable growth with Core Foundation and BitGo
Integrating the BitGo platform presents a credible solution for institutions that place much stock in security. All Bitcoin clients keep the full chain of custody of the digital currency, avoiding any compromise with the technology’s principles. Thus, Core’s ecosystem now has over $1 billion in Total Value Locked (TVL), proving its sustainability and ability to scale.
Core has established itself as a leader in Bitcoin DeFi, with over 319 million transactions and 500,000 weekly active wallets. This partnership strengthens Core Foundation’s position as the largest DeFi ecosystem aligned with Bitcoin.
In this case, Core’s Dual Staking model plays a crucial role in realizing Bitcoin possibilities. As a result, transaction fees and Bitcoin block rewards propose a zero-risk yield for Bitcoin placing.
This gives institutional investors a strong solution to convert passive Bitcoin assets to productive yield-generating assets. Nevertheless, the collaboration between Core Foundation and BitGo opens up a new chapter of institutional Bitcoin staking as a key to safe and sound scalability.
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