Introduction

The Core Foundation, in partnership with Maple Finance, BitGo, Copper, and Hex Trust, has launched a Bitcoin token designed for institutions to earn returns on idle BTC.

IstBTC Overview

In a press release received by crypto.news, IstBTC announced a new liquid, yield-bearing Bitcoin (BTC) token specifically designed for institutions to reap billions of dollars while maintaining security, compliance, and liquidity.

Minting Process

Institutions can mint IstBTC by depositing Bitcoin with custodians such as BitGo, Copper, or Hex Trust. Unlike other tokens, IstBTC accumulates yield while remaining fully liquid. This means institutions can trade, transfer, or use IstBTC as collateral.

Redemption

When redeemed, holders receive the original Bitcoin value along with accrued yield sent to their custodial accounts. IstBTC utilizes the Core blockchain’s dual-staking mechanism, allowing Bitcoin to earn rewards while securing the network. Thus, IstBTC provides institutional holders a way to maximize Bitcoin productivity without compromising security or operational efficiency.

Earning Yield

Previously, institutional BTC holders had to choose between secure storage or sacrificing security or liquidity to earn yield. With IstBTC, institutions can now generate sustainable yield paid in Bitcoin without transferring BTC away from trusted custodians.

Role of Maple Finance

Maple Finance is responsible for overseeing yield generation strategies that align with regulatory and risk standards, simplifying the process of earning yield without transferring BTC out of custody.

Quotes from Leaders

CEO and Co-Founder at Maple Finance, Sydney Powell, remarked on the lack of Bitcoin yield options for institutions to maximize their potential.

> “Maple is proud to partner with CORE on IstBTC, enabling institutions to earn yield on their BTC without sacrificing the security of trusted custodians.”

Hong Sun, Institutional Contributor at Core DAO, described IstBTC as a “breakthrough for institutional Bitcoin holders,” emphasizing that it offers 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, IstBTC sets a new standard for institutional Bitcoin solutions.”

Conclusion

Maple Finance’s new Bitcoin-linked yield product marks a significant innovation for institutional investors in the Bitcoin space.