Strategic Partnership to Enhance Institutional Accessibility
Bitcoin (BTC) staking layer Core has announced an exciting collaboration with Singapore-based custodian Cobo, marking a significant step toward expanding its institutional presence in the Asia-Pacific (APAC) region. This partnership aims to provide Cobo’s institutional clients with innovative opportunities to earn returns on their BTC holdings while ensuring they retain full control over their assets.
Unlocking New Opportunities for Bitcoin Holders
With the rise of various projects offering yield-generating options for BTC holders, the potential for unlocking substantial liquidity in the decentralized finance (DeFi) sector is becoming increasingly apparent. These staking options not only benefit investors but also serve as an alternative revenue stream for miners, helping to mitigate the impact of declining Bitcoin block subsidies.
Core’s Robust Staking Protocol
Core’s staking protocol has already made significant strides, securing over 6,200 BTC, which equates to approximately $548 million. This impressive figure is supported by a robust blockchain infrastructure, fortified by around 76% of Bitcoin’s hashrate, ensuring a secure environment for institutional investments.
Enhancing the Core Ecosystem
Brendon Sedo, an initial contributor at Core, expressed enthusiasm regarding the collaboration, stating, “Our integration with Cobo greatly enhances the Core ecosystem by onboarding liquidity from high-caliber institutional clients.” This partnership is expected to attract a broader range of institutional players, further solidifying Core’s position in the market.
Recent Collaborations to Broaden Access
Last month, Core also made headlines by teaming up with Maple Finance, alongside custodians BitGo, Copper, and Hex Trust. These strategic alliances are designed to expand access to BTC staking for institutions, demonstrating Core’s commitment to fostering innovation and inclusivity within the cryptocurrency landscape.
Conclusion
As Core continues to forge partnerships and develop its staking ecosystem, the collaboration with Cobo represents a pivotal moment for both platforms. By enhancing institutional access to Bitcoin staking, they are not only evolving the financial landscape but also empowering investors to maximize their BTC holdings effectively.
