CORE Team Up with Hex Trust: Earn Rewards on Bitcoin and CORE Tokens

According to a recent post from Wu Blockchain X, Core Foundation has teamed up with Hex Trust to bring dual staking to institutions. This article breaks down what that means, how Bitcoin holders can now earn without selling, why this alliance matters, and what it signals for the future of crypto finance.

Core Foundation Partnership with Hex Trust

It has recently 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 .

Source: Wu Blockchain X

How to Earn Crypto Rewards on Bitcoin and CORE Tokens

In this collaboration, Bitcoin and CORE tokens are used to earn rewards. The April 2024 self-custodial staking technology of Core allows a tiered reward structure, which is determined by the proportion of CORE tokens to BTC staked.

This is a way that enables investors to make the most out of their assets and still retain ownership of their BTCs. Users can begin by connecting their Core wallet to the institutional platform of Hex Trust and selecting the staking ratio that best fits their investment strategy. It is an easy way to earn passive income in crypto.

Significance of this Alliance

This partnership has a lot of importance:

1. It will first and foremost disrupt the conventional view of Bitcoin as a purely passive store of value by facilitating active financialization through staking rewards.

2. Second, it signifies the increased institutional attention to crypto yield strategies, which has been discussed in a 2023 study published by the Journal of Financial Economics.

3. The partnership offers secure and compliant staking solutions and helps to overcome the risk of regulatory issues, and shows how digital assets can be safely added to institutional investment portfolios.

Impact on Whole Market

• It is anticipated that the incorporation will produce a significant effect on the rest of the BTCFi ecosystem.

• As the total value locked (TVL) in BTCFi is expected to reach the mark of $50 billion by the end of 2024, this partnership can considerably increase the institutional staking adoption rates.

• It is also an indication of the active financialization of Bitcoin, which will prompt other custodians and crypto platforms to develop rewarding solutions for BTC holders.

• Moreover, this action would affect the market sentiment, where Bitcoin will no longer be viewed only as assets to be held but also as tools that can provide continuous returns.

Targeted Regions

This partnership is focused on regulated markets in the APAC and MENA regions. Targeting these markets, the alliance responds to an increasing need for secure and compliant digital asset services. A trend that is evidenced by a report by Deloitte, which found that 80% Fortune 500 companies are actively considering a secure crypto custody solution.

Future Ahead

In the future, this Foundation and Hex Trust partnership will likely increase the use of BTCFi and stimulate additional innovation in the institutional crypto sector. The partnership establishes a precedent of responsible crypto financialization that closes the divide between traditional finance and digital assets and encourages trust and adoption by institutional players. Collaboration always brings growth to both organizations, similar to the Coinbase team's up with Solana Squads for USDC adoption on the   Solana Blockchain.