Core Foundation is a scaling solution for Bitcoin and has partnered with Hex Trust to provide Bitcoin staking for institutional clients in the Asia-Pacific region and the Middle East and North Africa.
Announced on Wednesday, this partnership will combine Core's 'dual tracking technology' with Hex's compliant custodial infrastructure.
Core Foundation leverages the security and infrastructure of Bitcoin to create a Proof of Stake (PoS) layer and DeFi ecosystem. This collaboration will allow clients to stake Bitcoin and CORE tokens to earn on-chain rewards without having to sell their Bitcoin.
The collaboration with Hex Trust is an important step in unlocking the utility of Bitcoin for institutional clients,” said Core's institutional contributor Hong Sun. “We are jointly accelerating the adoption of Bitcoin yield strategies and creating a stronger, more sustainable ecosystem for Bitcoin DeFi.
BTC staking expands to the Asia-Pacific region, Middle East, and North Africa.
This collaboration follows Core's recent expansion of dual Bitcoin staking in Asia. The company partnered with Singapore-based custodian Cobo in May to enhance its institutional influence.
As of April, with institutional interest in Bitcoin-based DeFi continuing to grow, Core's dual staking assets have surpassed $260 million.
In addition, institutional participants have strong demand for Bitcoin staking. A new study by Maestro points out that staking has become the 'core engine of BitcoinFi', locking up over 68,500 Bitcoins (BTC) with a total value locked (TVL) of $7.39 billion.
Through the mutual integration of Hex and Core, institutional clients in the Asia-Pacific region and the Middle East and North Africa can directly and securely access and start generating rewards for their held Bitcoins.
In addition, institutions can confidently obtain sustainable Bitcoin rewards while maintaining full control and security over their assets.
Calvin Shen, Chief Business Officer of Hex Trust, stated: 'Through our fully licensed infrastructure, we are providing secure, high-quality staking solutions for institutions and family offices in the Asia-Pacific region and the Middle East and North Africa.'
