The Core Foundation and partners launch new institutional Bitcoin yield token
The Core Foundation in partnership with Maple Finance, BitGo, Copper, Hex Trust has launched a Bitcoin token designed for institutions to earn return from idle BTC.
In a press release received by crypto.news, lstBTC has announced a new liquid, yield-bearing Bitcoin (BTC) token specifically designed for institutions to reap back billions of dollars while maintaining security, compliance, and liquidity.
Institutions can mint lstBTC by depositing Bitcoin with custodians like BitGo, Copper, or Hex Trust. Unlike other tokens, lstBTC accumulates yield while remaining fully liquid. That way, institutions are able to trade, transfer, or pledge lstBTC as collateral.
When redeemed, holders receive the original Bitcoin value alongside accrued yield sent to their custodial accounts. lstBTC utilizes Core blockchain’s dual-staking mechanism, enabling Bitcoin to earn rewards while securing the network. Therefore, lstBTC offers institutional holders an opportunity to maximize Bitcoin productivity without compromising security or operational efficiency.
In the past, institutional BTC holders had to choose between storing BTC value securely or giving up security or liquidity in order to earn BTC yield. But with lstBTC, institutions are able to generate sustainable yield that is paid in Bitcoin without transferring BTC away from trusted custodians.
This is made possible through Maple Finance’s role as overseer or yield generation strategies that align with regulatory and risk standards. Therefore, the investment manager is able to help simplify the process of earning yield without transferring BTC out of custody.
CEO and Co-Founder at Maple Finance, Sydney Powell, stated that for years, the market has seen a noticeable lack of Bitcoin yield options that can help institutions maximize the potential of Bitcoin.
“Maple is proud to partner with CORE on lstBTC which enables institutions to earn yield on their BTC without giving up the security of trusted custodians,” said Powell.
Institutional Contributor at Core DAO, Hong Sun, called the partnership behind lstBTC a “breakthrough for institutional Bitcoin holders” as it grants institutions the chance to earn yield through Bitcoin while maintaining custody and security.
“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, lstBTC sets a new standard for institutional Bitcoin solutions,” said Sun.
