The Largest Bitcoin DeFi ecosystem dedicated to growing Core, Core DAO has partnered with BitGo, a renowned institutional and financial services provider, to launch dual staking in the crypto landscape. Core foundation confirmed the development in a Monday blog post.
As revealed, the partnership marks a new era in Bitcoin DeFi (BTCfi), positioning BitGo as the first custodian to enable institutional access to Dual Staking in US. According to the post, Dual staking allows clients to earn scalable Bitcoin yield while enjoying the hallmark security and trustlessness associated with the Bitcoin blockchain.
According to the post, unlocking institutional BTC Yield at Scale BitGo Integration with CoreDAO exposes clients to a secure mode of Staking Bitcoin. The clients enjoy these benefits by leveraging Core’s cutting-edge Dual Staking model. Similarly, institutions can also enjoy scalable, tiered yield without incurring any slashing, credit, counterparty, or smart contract risks on their principal assets. This is done by locking customer’s Bitcoin for a certain period and staking CORE tokens directly from BitGO’s qualified custody platform.
Reacting to the development, Rich Rines, an Initial Contributor at Core, noted that BitGo’s decision to integrate Core is a landmark achievement for institutional-grade Bitcoin staking. He added that integrating Core’s secure, sustainable, and scalable staking solution with BitGo’s unparalleled custody services is ushering in a new era of Bitcoin DeFi.
The benefit of BitGo dual staking in crypto landscape
BitGo’s trusted custody solutions provide a safe and secure means of staking Bitcoin and CORE tokens. They also unlock sustainable, top-tier yield rates for institutional investors. The dual staking solution allows Bitcoin holders to fully control their assets, prevent counterparty risk, and maintain Bitcoin’s security-first ethos.
Meanwhile, BitGo CEO Mike Belshe has also reacted to the partnership. According to him, BitGo’s integration highlights the firm’s commitment to providing opportunities for institutional clients to securely generate returns from their Bitcoin holdings. He further said that BitGo will deliver scalable and sustainable solutions that align with Bitcoin’s Security-first precept while opening doors for new institutional value.
Read More: