blockchainreporter.net
Copper.co, a well-known player in the world of digital asset collateral management and custody has announced a new partnership. As per Copper.co, it is collaborating with Core Foundation to unveil the non-custodial BTC staking’s 1st-ever implementation, with Copper backing the staking activities and the $CORE coin through the resilient infrastructure. The platform took to its official X account to announce this initiative.
🔔 CORE and Bitcoin staking are going live soon on @CopperHQ 👏🎉
— Core DAO 🔶 (@Coredao_Org) September 23, 2024
Full staking rewards reporting will be integrated into the UI and accessible via API & CSV download. Plus, DeFi transactions will be supported through Copper Connect!
More updates incoming, read the original… pic.twitter.com/MyUeWePdU1
Copper.co and Core Foundation Collaborate to Enable Non-Custodial Staking of Bitcoin
Copper.co mentioned that this collaboration denotes an important move for Core as well as Copper to offer non-custodial $BTC staking. It is a mechanism that lets institutions stake Bitcoin without losing control over the assets to a 3rd party. The platform added that the integration of the ClearLoop infrastructure of Copper works as a chief factor in this endeavor. ClearLoop permits users to organize their collateral as well as settle their trades across diverse exchanges.
While doing so, they can mitigate counterparty risk while improving capital efficiency. The respective system will back the Bitcoin and $CORE tokens’ staking. This will provide the institutional investors an effective and secure way to get yield on the $BTC holdings thereof. Rich Rines, an early contributor to the platform of Core, also commented on this development.
As per the contributor, the collaboration with Copper provides institutions with exclusive opportunities to maximize their Bitcoin investments. The institutional sector is especially pursuing unique ways to broaden Bitcoin yield via a mechanism such as the non-custodial Bitcoin staking that Core offers.
The Endeavor Enhances Institutional Trust and Offers Greater Accessibility
Copper.co’s CEO Dmitry Tokarev also discussed this development. The executive has highlighted its importance for the wider growth of protected connectivity in the sector of digital assets. According to Copper.co, this initiative further enhances institutional trust and offers greater accessibility to the clients.