Core Foundation, the creator of a yield-bearing bitcoin token, has partnered with institutional lending protocol Maple Finance and custody firms BitGo, Copper and Hex Trust to push deep into the BTC staking sector.
Core’s IstBTC token lets institutional participants earn yield on bitcoin holdings while staying safely inside trusted custodial partners without the need to take on the risks or operational burdens of dealing with smart contracts. A liquid staking token, to be issued in the coming months by Maple, will allow staked BTC to be used by trading firms and asset managers as collateral for borrowing in DeFi or with trading counterparties.
The ability to earn yield on bitcoin and potentially unleash a new wave of liquidity into the DeFi ecosystem has become a hot topic, with protocols like Babylon having entered the market. A massive, untapped group of BTC holders will be able to get yield on their BTC thanks to Core’s…
