BitGo, a leader in cryptocurrency custody, is changing the way institutional investors can earn returns on their Bitcoin. The company announced today that it has integrated Core DAO’s innovative dual staking model into its platform, allowing clients to generate scalable Bitcoin yield while keeping their assets secure.
For the first time, institutional investors can stake their Bitcoin via BitGo, while also participating in Core’s dual staking system. This means Bitcoin holders can earn extra rewards by staking Core tokens—boosting their returns without giving up control of their assets.
Core DAO has rapidly established itself as a top player in Bitcoin DeFi, and this partnership with BitGo is a major step forward for the platform. With over $1 billion in value locked and strong growth in the Bitcoin ecosystem, Core is leading the way in providing Bitcoin investors with new ways to earn rewards.
“BitGo’s decision to integrate Core is a milestone for institutional-grade Bitcoin staking,” said Rich Rines from Core DAO. “By combining Core’s secure, sustainable, and scalable staking solutions with BitGo’s unparalleled custody services, we’re ushering in a new era of Bitcoin DeFi.”
Staking Bitcoin directly is not possible due to its proof-of-work model but Core’s dual staking provides a solution. Bitcoin holders lock their BTC to help secure the Core blockchain and earn rewards in both Bitcoin and Core tokens. This method offers higher returns than traditional Bitcoin staking and allows institutions to avoid the risks typically associated with staking.
This partnership is a game-changer for institutional Bitcoin staking. As Bitcoin continues to grow in importance, Core’s dual staking model opens up new opportunities for Bitcoin to become a key player in decentralized finance (DeFi). The collaboration will be showcased at the Bitcoin Fusion MENA conference in Abu Dhabi on December 10, 2024.
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