Key Points
- The Core Foundation, in collaboration with Maple Finance, BitGo, Copper, and Hex Trust, has launched a yield-bearing Bitcoin token for institutions.
- IstBTC allows institutions to earn returns from their idle Bitcoin while maintaining security, compliance, and liquidity.
The Core Foundation, together with Maple Finance, BitGo, Copper, and Hex Trust, has introduced a new Bitcoin token, named IstBTC, aimed at institutions. This unique yield-bearing Bitcoin token allows institutions to earn returns from their dormant Bitcoin (BTC) while still ensuring security, compliance, and liquidity.
Institutions can mint IstBTC by depositing Bitcoin with custodians such as BitGo, Copper, or Hex Trust. What sets IstBTC apart from other tokens is its ability to accumulate yield while remaining fully liquid, enabling institutions to trade, transfer, or use IstBTC as collateral.
Redeeming IstBTC
When IstBTC is redeemed, holders are given the original Bitcoin value in addition to accrued yield, which is sent to their custodial accounts. IstBTC leverages the Core blockchain’s dual-staking mechanism, allowing Bitcoin to earn rewards while also securing the network. This offers institutional holders the chance to maximize Bitcoin productivity without compromising security or operational efficiency.
Previously, institutional BTC holders had to choose between securely storing BTC value or sacrificing security or liquidity to earn BTC yield. But with IstBTC, institutions can generate sustainable yield paid in Bitcoin without having to transfer BTC away from trusted custodians.
Role of Maple Finance
Maple Finance plays a crucial role as the overseer of yield generation strategies that align with regulatory and risk standards. This allows the investment manager to simplify the process of earning yield without transferring BTC out of custody.
Sydney Powell, CEO and Co-Founder at Maple Finance, expressed that the market has been lacking in Bitcoin yield options that can help institutions maximize the potential of Bitcoin. Powell was proud to announce their partnership with CORE on IstBTC, which allows institutions to earn yield on their BTC without sacrificing the security of trusted custodians.
Hong Sun, Institutional Contributor at Core DAO, referred to the partnership behind IstBTC as a breakthrough for institutional Bitcoin holders. It provides institutions the opportunity to earn yield through Bitcoin while maintaining custody and security. Sun emphasized that by combining the Core blockchain’s dual staking, Maple Finance’s risk-managed strategies, and the trusted custodial infrastructure of BitGo, Copper, and Hex Trust, IstBTC sets a new standard for institutional Bitcoin solutions.
