Core Foundation announced today its partnership with BitGo, making BitGo the first custodian to support user participation in Core's "Double Staking." Committed to developing the world's largest Bitcoin DeFi ecosystem, Core Foundation has integrated with BitGo, the global leader in digital asset institutional-grade custody and financial services. This integration signifies a new era in institutional advancement in DeFi. BitGo's clients can now earn scalable Bitcoin returns while maintaining Bitcoin's blockchain's security and trustlessness.

Unlocking Institutional-Grade Bitcoin Returns at Scale

Through the integration with Core's "Double Staking," BitGo has brought secure Bitcoin staking services to institutional clients. By time-locking clients' Bitcoin on BitGo's compliant custody platform and staking CORE tokens, institutions can unlock scalable tiered returns without exposure to slashing, credit, counterparty, or smart contract risks.

"BitGo's integration with Core is a milestone for institutional Bitcoin staking," said Rich Rines, an early Core contributor. "By combining Core's secure, sustainable, and scalable staking solution with BitGo's unparalleled custody service, we are ushering in a new era of Bitcoin DeFi."

"BitGo's integration with Core reflects our commitment to expanding secure Bitcoin yield generation opportunities for institutional clients," said BitGo CEO Mike Belshe. "As the first U.S.-compliant custodian to support Core's innovative Double Staking model, we are providing a scalable, sustainable solution in line with the ethos of Bitcoin while unlocking new value for institutions."

Integration Highlights

· Institutional-Grade Custody: BitGo's trusted custody solution supports secure and convenient staking of Bitcoin and CORE tokens, unlocking sustainable returns for institutional investors.

· Enhanced Bitcoin Returns: Double Staking offers higher yields, and CORE staking unlocks top-tier earning rates.

· Battle-Tested Security: Core's staking solution allows Bitcoin holders to fully custody their assets, avoid counterparty risk, while upholding Bitcoin's security-first ethos.

Opening Bitcoin DeFi to Institutions

Core's innovative staking solution has introduced a "risk-free rate" for Bitcoin for the first time, with rewards subsidized by transaction fees and Bitcoin's 81-year block reward. With over 75% of Bitcoin's hashrate securing the network through miner participation, Core has achieved a groundbreaking staking solution, currently staking over 5,300 BTC, unlocking billions of dollars of previously static Bitcoin value.

Furthermore, Core has provided scalable, sustainable infrastructure for institutional Bitcoin staking, with a total value locked (TVL) exceeding $9 billion, a thriving ecosystem with over 100 dApps, 500k weekly active wallets, and over 3.19 billion transactions since launch.

Focus on Bitcoin Fusion MENA Conference

The Bitcoin Fusion MENA Conference will be held on December 10, 2024, in Abu Dhabi, bringing together global blockchain leaders to discuss the future of Bitcoin and DeFi. In addition to roundtable forums, panel discussions, and networking opportunities, feel free to visit Core's booth M-120 to learn about its partnership with BitGo and how cross-staking unlocks institutional-grade Bitcoin yields. To make an appointment, please visit here.

About BitGo

BitGo is a leading infrastructure provider for digital asset solutions, offering custody, wallets, staking, trading, financing, and cold storage settlement services. Since its founding in 2013, BitGo has been focused on serving institutional clients, with around 20% of on-chain Bitcoin transactions involving its custody assets, making it the world's largest independent digital asset custodian. For more information, please visit the official website.

About Core

Core is a Bitcoin's Proof of Stake (PoS) network layer that supports non-custodial Bitcoin staking and drives the development of an EVM-compatible BTCfi ecosystem. Since April 2024, Core has staked over 6,700 BTC, enhancing Bitcoin's utility and security. Core is the most Bitcoin-native EVM blockchain, 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 since the mainnet launch in January 2023, the on-chain TVL has surpassed $1 billion.

This article is contributed and does not represent the views of BlockBeats