BitGo, a leader in cryptocurrency custody, is changing the way institutional investors can monetize their Bitcoin. The company announced today that it has integrated Core DAO’s innovative dual staking model into its platform, allowing customers to generate scalable Bitcoin yield while maintaining the security of their assets.
For the first time, institutional investors can stake their Bitcoins via BitGo, while participating in Core’s double stake system. This means that Bitcoin holders can earn additional rewards by staking Core tokens, increasing their returns without giving up control of their assets.
Core DAO has quickly established itself as a leading player in Bitcoin DeFi, and this partnership with BitGo represents a major step forward for the platform. With over $1 billion in value locked and strong growth in the Bitcoin ecosystem, Core is leading the way in offering Bitcoin investors new ways to earn rewards.
“BitGo’s decision to integrate Core is an important step for institutional-grade Bitcoin staking,” said Rich Rines of Core DAO. “By combining Core’s secure, durable, and scalable staking solutions with BitGo’s unprecedented custody services, we are ushering in a new era of Bitcoin DeFi.”
Direct staking of Bitcoin is not possible due to its proof-of-work model, but Core’s dual staking provides a solution. Bitcoin holders lock up their BTC to help secure the Core blockchain and earn rewards in Bitcoin and Core tokens. This method offers higher returns than traditional Bitcoin staking and allows institutions to avoid the risks typically associated with staking.
This partnership is a game changer for institutional Bitcoin staking. As Bitcoin continues to gain prominence, Core’s dual staking model opens new opportunities for Bitcoin to become a key player in decentralized finance (DeFi). The collaboration will be presented at the Bitcoin Fusion MENA conference in Abu Dhabi on December 10, 2024.
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