The Core Foundation, in collaboration with Maple Finance, BitGo, Copper, and Hex Trust, has introduced a new institutional Bitcoin yield token called IstBTC. This token is specifically designed for institutions to earn returns from idle BTC while ensuring security, compliance, and liquidity.
In a press release received by crypto.news, IstBTC is described as a liquid, yield-bearing Bitcoin token that allows institutions to generate billions of dollars in returns. Institutions can mint IstBTC by depositing Bitcoin with trusted custodians such as BitGo, Copper, or Hex Trust. Unlike other tokens, IstBTC accumulates yield while remaining fully liquid, enabling institutions to trade, transfer, or pledge IstBTC as collateral.
When IstBTC is redeemed, holders receive the original Bitcoin value along with the accrued yield sent to their custodial accounts. This innovative token utilizes Core blockchain’s dual-staking mechanism, allowing Bitcoin to earn rewards while securing the network. As a result, IstBTC offers institutional holders the opportunity 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 and liquidity to earn BTC yield. However, IstBTC now provides institutions with a sustainable yield paid in Bitcoin without transferring BTC away from trusted custodians. Maple Finance plays a crucial role in overseeing yield generation strategies that align with regulatory and risk standards, simplifying the process of earning yield without moving BTC out of custody.
Sydney Powell, CEO and Co-Founder of Maple Finance, expressed pride in partnering with Core on IstBTC, stating that it enables institutions to earn yield on their BTC without compromising the security of trusted custodians. Hong Sun, Institutional Contributor at Core DAO, hailed the partnership behind IstBTC as a breakthrough for institutional Bitcoin holders, offering them the opportunity to earn yield through Bitcoin while maintaining custody and security.
By combining 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. This partnership marks a significant advancement in the realm of institutional Bitcoin investments, providing institutions with a secure and efficient way to maximize the potential of Bitcoin.