Bitcoin Staking Platform Core Partners with Cobo to Expand in APAC Region
Core, the Bitcoin staking platform behind liquid-staking token lstBTC, has formed a partnership with Singapore-based custodian Cobo. This collaboration aims to grow Core's institutional presence in the Asia-Pacific region - based on Coindesk reporting..
The arrangement will let Cobo's institutional clients earn yield on their Bitcoin holdings while keeping complete control of their assets. This addresses a key concern for many institutional investors who need both security and returns.
Core's staking protocol has already attracted over 6,200 BTC, valued at approximately $548 million. The platform's blockchain is secured by roughly 76% of Bitcoin's total hashrate, according to an announcement released Friday.
Brendon Sedo, initial contributor at Core, stated: "Our integration with Cobo greatly enhances the Core ecosystem by onboarding liquidity from high-caliber institutional clients."
This expansion comes amid growing interest in Bitcoin yield opportunities. Many projects now offer BTC holders ways to earn returns, which could:
- Bring significant liquidity into decentralized finance
- Provide alternative revenue for miners facing declining Bitcoin block subsidies
- Allow institutional investors to generate yield on previously static assets
The Cobo partnership follows Core's recent collaborations with Maple Finance and custodians BitGo, Copper, and Hex Trust announced last month. These relationships further extend institutional access to Bitcoin staking options.
This development comes as Bitcoin gains traction globally. El Salvador continues to purchase Bitcoin despite its recent $3.5 billion IMF financing deal. President Bukele confirmed the country now holds 6,101.18 BTC worth over $535 million, even after the IMF sought to limit such activities.
