Core Foundation has announced a strategic partnership with Hex Trust aimed at implementing a dual staking system for institutional investors.
Core Foundation Partnership with Hex Trust
Recently, Core Foundation announced a strategic alliance with Hex Trust, a leading digital asset custodian, to integrate a dual staking system into the Hex institutional custody platform. This partnership allows investors to stake BTC and CORE tokens simultaneously, earning on-chain rewards without selling their Bitcoin holdings.
How to Earn on Bitcoin and CORE Tokens
In this collaboration, users can earn rewards using Bitcoin and CORE tokens. Core's staking technology, slated for April 2024, features a tiered reward structure based on the ratio of CORE tokens to BTC staked. Investors can connect their Core wallet to Hex Trust's platform to select their preferred staking ratio.
Significance of this Alliance
This partnership holds great significance. Firstly, it alters the traditional view of Bitcoin as a purely passive store of value, enabling active financialization through staking rewards. Secondly, it indicates increasing institutional attention towards crypto yield strategies. The partnership also provides secure and compliant staking solutions, helping to mitigate regulatory risks.
Thus, the partnership between Core Foundation and Hex Trust, aimed at active utilization of Bitcoin, could significantly impact the market and promote further innovation in the institutional crypto sector.
