3 months ago
Bitcoin (BTC) staking furniture Core has teamed up with Singapore-based custodian Cobo to grow its organization scope into the Asia-Pacific (APAC) region.
Core, issuer of the liquid-staking token lstBTC, volition alteration Cobo's organization clients to gain a instrumentality connected BTC holdings portion maintaining afloat power implicit their assets, according to an emailed announcement shared with CoinDesk connected Friday.
Numerous projects are present offering BTC holders a means of earning yield, perchance unlocking untold liquidity into the decentralized finance (DeFi) industry. They besides supply alternate gross sources to miners, which tin assistance to offset declining Bitcoin artifact subsidies.
Core's staking protocol has secured implicit 6,200 BTC ($548 million) with its blockchain secured by astir 76% of Bitcoin's hashrate, according to Friday's announcement.
“Our integration with Cobo greatly enhances the Core ecosystem by onboarding liquidity from high-caliber organization clients,” said Brendon Sedo, archetypal contributor astatine Core.
Last month, Core partnered with Maple Finance and custodians BitGo, Copper and Hex Trust successful different determination that promised to broaden entree to BTC staking for institutions.
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