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Core and Cobo Team Up to Expand Institutional Reach in Asia-Pacific Region
Core, the issuer of the liquid-staking token lstBTC, has partnered with Singapore-based custodian Cobo to expand its institutional reach into the Asia-Pacific (APAC) region.
Staking Protocol Secures Over 6,200 BTC and 76% of Bitcoin’s Hashrate
Core’s staking protocol has secured over 6,200 BTC ($548 million) with its blockchain secured by around 76% of Bitcoin’s hashrate, according to the company’s announcement.
Enabling Institutional Clients to Earn a Return on BTC Holdings
Through this partnership, Cobo’s institutional clients will be able to earn a return on their BTC holdings while maintaining full control over their assets.
Unlocking Untold Liquidity in the Decentralized Finance (DeFi) Industry
Several projects are now offering BTC holders a means of earning yield, potentially unlocking untold liquidity into the DeFi industry. These projects also provide alternative revenue sources to miners, which can help to offset declining Bitcoin block subsidies.
Core’s Integration with Cobo Enhances Ecosystem
“Our integration with Cobo greatly enhances the Core ecosystem by onboarding liquidity from high-caliber institutional clients,” said Brendon Sedo, initial contributor at Core.
Recent Partnerships Broaden Access to BTC Staking for Institutions
Last month, Core partnered with Maple Finance and custodians BitGo, Copper, and Hex Trust in a move that promised to broaden access to BTC staking for institutions.
Conclusion
This partnership between Core and Cobo marks a significant step in expanding the reach of Core’s staking protocol into the APAC region. By providing institutional clients with a means of earning a return on their BTC holdings, this partnership has the potential to unlock untold liquidity in the DeFi industry and provide alternative revenue sources for miners.
FAQs
Q: What is Core’s staking protocol?
A: Core’s staking protocol is a liquid-staking token that enables users to earn a return on their BTC holdings while maintaining full control over their assets.
Q: What is the significance of the partnership between Core and Cobo?
A: The partnership between Core and Cobo enables institutional clients to earn a return on their BTC holdings while maintaining full control over their assets, and expands Core’s reach into the APAC region.
Q: What is the potential impact of this partnership on the DeFi industry?
A: This partnership has the potential to unlock untold liquidity in the DeFi industry by providing alternative revenue sources for miners and offering a means for BTC holders to earn a return on their assets.
Q: What is the status of Core’s blockchain security?
A: Core’s blockchain is secured by around 76% of Bitcoin’s hashrate, with over 6,200 BTC ($548 million) locked up in its staking protocol.
