Core Foundation Partners with Maple Finance and Custodians for Bitcoin Staking

Core Foundation has partnered with Maple Finance, BitGo, Copper, and Hex Trust to enter the BTC staking sector with their yield-bearing bitcoin token, IstBTC. Key points include:

IstBTC allows institutional participants to earn yield on bitcoin while using trusted custodial partners.
A liquid staking token will be launched by Maple, enabling staked BTC to serve as collateral for borrowing in DeFi.
This initiative aims to increase liquidity in the DeFi ecosystem and tap into a large group of BTC holders.
Maple's existing BTC staking product offers a 5%-plus APY with a 90-day lock-up period.
The upcoming liquid staking token (lstBTC) will provide instant redemption for improved liquidity.
Maple CEO Sid Powell emphasized that Core is well-positioned to lead in liquid staking solutions for BTC.

Powell noted that staking can enhance Bitcoin network security by providing alternative revenue streams for miners amidst decreasing block rewards. The market for BTC yield options remains limited.