The Core Foundation, contributors to the Bitcoin-powered blockchain Core, has announced a strategic partnership with Copper, a leader in digital asset custody, collateral management, and prime services. Copper will now support the CORE token and staking activities, marking a significant step in offering Non-Custodial BTC Staking to the institutional market.
Founded in 2018, Copper has been at the forefront of developing institutional digital asset infrastructure, focusing on custody and collateral management. A critical component of Copper's infrastructure is ClearLoop, which allows clients to manage collateral and settle trades across multiple exchanges, thereby mitigating counterparty risk and enhancing capital efficiency. With this partnership, Copper's infrastructure will now support CORE token and staking, enabling Bitcoin and CORE to be staked directly from a custodial account, which further reduces counterparty risk.
Rich Rines, Initial Contributor to Core, emphasized the significance of this partnership for institutional investors. "The institutional market especially is looking at new ways to maximize their Bitcoin investment and yield through a mechanism like the Non-Custodial BTC Staking offered by Core. We couldn’t ask for a better partner than Copper to help us in presenting a safe and secure means of providing this kind of investment to the institutional market, while also helping us to optimize the staking process," Rines stated.
Dmitry Tokarev, CEO at Copper.co, echoed this sentiment, noting that the partnership would contribute to the broader growth of secure connectivity. "This integration further establishes institutional trust and provides our clients with greater accessibility," Tokarev said.
Core is focused on unlocking the $1.25 trillion in trapped Bitcoin liquidity through secure, yield-bearing BTC staking solutions. The platform is one of the top five Bitcoin scaling chains, with more than 19 million unique addresses and over 260,000 daily transactions as of June. Core has also secured over 4,800 BTC in staking and receives more than 55% of Bitcoin hash power, highlighting its substantial impact. Additionally, Core supports 100 decentralized applications (Dapps) and boasts over 70,000 daily active users, solidifying its position as a leading player in the Bitcoin finance (BTCfi) space.
Core is pioneering the first-ever implementation of Non-Custodial BTC Staking and the world's first yield-bearing BTC Exchange-Traded Product (ETP). With around 55% of Bitcoin mining hash power contributing to its network's security and over 3,800 BTC natively staked, Core has built a massive community. This includes 2.3 million Twitter followers, 267,000 Discord members, and millions of Core adopters, resulting in over 19 million unique addresses and more than 260 million transactions since its mainnet launch in January 2023.
Since its inception, Copper has been committed to building the standard for institutional digital asset infrastructure. Supported by multi-award-winning technology, Copper offers a comprehensive and secure suite of products and services for the safe custody and trading of digital assets. ClearLoop, at the heart of Copper's infrastructure, enables clients to manage collateral and settle trades across multiple exchanges, mitigating counterparty risk and increasing capital efficiency.
