The Core Foundation announced today that it has reached a cooperation with BitGo , and BitGo has become the first custodian to support users to participate in Core’s “double staking”. The Core Foundation, which is committed to developing the world’s largest Bitcoin DeFi ecosystem, has reached an integrated cooperation with BitGo, a global leader in digital asset institutional custody and financial services. This integration marks a new era for institutions to further open up DeFi returns. BitGo’s customers can now also obtain scalable Bitcoin returns while maintaining the iconic security and trustlessness of the Bitcoin blockchain.
Unlocking Institutional-Grade Bitcoin Yields at Scale
Through the “double staking” integration with Core, BitGo brings secure Bitcoin staking services to institutional clients. By time-locking clients’ Bitcoin and staking CORE tokens in BitGo’s compliant custody platform, institutions can unlock scalable, tiered returns without taking on slashing, credit, counterparty, or smart contract risks.
“BitGo’s integration with Core is a milestone for institutional-grade Bitcoin staking,” said Rich Rines, an early Core contributor. “By combining Core’s secure, sustainable, and scalable staking solution with BitGo’s unparalleled custodial services, we are ushering in a new era of Bitcoin DeFi.”
“BitGo’s integration with Core demonstrates our commitment to expanding opportunities to securely generate Bitcoin yield for institutional clients,” said Mike Belshe, CEO of BitGo. “As the first U.S.-compliant custodian to support Core’s innovative dual-collateral model, we are delivering a scalable, sustainable solution that prioritizes Bitcoin security while unlocking new value for institutions.”
Integration Highlights
-
Institutional-Grade Custody: BitGo’s trusted custody solutions enable secure and convenient staking of Bitcoin and CORE tokens, unlocking sustainable returns for institutional investors.
-
Enhanced Bitcoin Yields: Dual staking offers higher returns, and CORE staking unlocks top yields.
-
Proven Security: Core’s staking solution enables Bitcoin holders to have full custody of their assets and avoid counterparty risk, while maintaining Bitcoin’s security-first philosophy.
Opening up Bitcoin DeFi for institutions
Core’s innovative staking solution sets a “risk-free rate” for Bitcoin for the first time, with returns subsidized by transaction fees and Bitcoin’s 81-year block rewards. With more than 75% of Bitcoin’s computing power secured through miner participation, Core has achieved a breakthrough staking solution, with more than 5,300 BTC currently staked, unlocking billions of dollars in previously static Bitcoin value.
In addition, Core provides a scalable and sustainable infrastructure for institutional Bitcoin staking, with a total locked value (TVL) of over $900 million and thriving ecosystem activities, including over 100 dApps, 500,000 weekly active wallets, and over 319 million transactions since launch.
Focus on Bitcoin Fusion MENA Conference
Bitcoin Fusion MENA will be held in Abu Dhabi on December 10, 2024, bringing together global blockchain leaders to discuss the future of Bitcoin and DeFi. In addition to roundtables, panel discussions and networking opportunities, please visit Core’s booth M-120 to learn about its partnership with BitGo and how dual staking can unlock institutional-grade Bitcoin returns. For reservations, please visit: https://lu.ma/9mp78kq4.
About BitGo
BitGo is a leading infrastructure provider of digital asset solutions, providing custody, wallet, pledge, trading, financing and cold storage settlement services. Since its establishment in 2013, BitGo has focused on serving institutional clients. Its custody assets account for approximately 20% of the on-chain Bitcoin transaction volume, making it the world’s largest independent digital asset custodian. For more information, please visit: www.bitgo.com.
About Core
Core is Bitcoin’s Proof of Stake (PoS) network layer, supporting non-custodial Bitcoin staking and driving the EVM-compatible BTCfi ecosystem. Since April 2024, Core has staked over 6,700 Bitcoins , increasing Bitcoin’s utility and security. Core is the most compatible EVM blockchain with Bitcoin, with ~76% of Bitcoin’s hashrate securing its network. This breakthrough has attracted millions of Core users – over 31 million unique addresses , 325M+ transactions , and over $1 billion in on-chain TVL since mainnet launch in January 2023.