Latest news with #BabylonGenesis
Associated Press
10-04-2025
- Business
- Associated Press
BitGo to Support BTC Staking and BABY Custody for Babylon Genesis
10 April 2025 (Bitwire) -– BitGo, one of the world's largest independent digital asset custodians and staking providers, which recently surpassed $100 billion in assets under custody, now supports native Bitcoin staking and BABY token custody & staking for the launch of the Babylon Genesis chain. This collaboration unlocks secure, institutional access to the self-custodial Babylon Bitcoin staking protocol and aligns with Babylon's broader vision of building a Bitcoin-secured decentralized world. The Babylon Genesis launch introduces three core pillars for a Bitcoin-secured world: trustless Bitcoin staking, the emergence of BTCFi (Bitcoin-secured DeFi), and utility via the BABY token. BitGo's institutional-grade support advances each of these areas, providing Babylon users and BTC holders with an unprecedented level of security, scalability, and access. Through this integration, BitGo clients can now participate in the Babylon Bitcoin staking protocol without wrapping, bridging, or relinquishing custody of their BTC. Simultaneously, BitGo will provide secure custody and staking services for BABY, Babylon Genesis' native token, which powers governance, staking incentives, and the broader BTCFi ecosystem. 'BitGo's support is a major milestone for institutional access to the Babylon ecosystem,' said Fisher Yu, co-founder of the Babylon Bitcoin staking protocol. 'As a leading custody choice for institutional BTCs, this integration opens the door for more participants to engage with BTC staking and the broader BTCFi economy in a way that aligns with their business and operational needs.' With this integration, BitGo enables Bitcoin holders to stake BTC natively to secure decentralized systems like Proof-of-Stake chains, Layer 2s, and data availability layers, all while maintaining storage. BitGo's support for BABY offers institutions secure access to staking rewards and token utility within the Babylon protocol. 'We're proud to be selected as the preferred U.S. custodian for Babylon Bitcoin staking,' said Chen Fang, Chief Revenue Officer at BitGo. 'Institutions are looking for secure, compliant ways to earn rewards on their BTC, and our integration with the Babylon protocol delivers exactly that—without compromising on custody or control.' This integration signals a broader shift across the digital asset space: from passive Bitcoin holdings toward active participation in the decentralized economy. By bringing together Bitcoin's unmatched security with BitGo's institutional reach, Babylon Genesis is creating a new financial primitive where Bitcoin can secure, scale, and power the next wave of decentralized applications. About Babylon Labs Babylon Labs focuses on Bitcoin security-sharing protocols with a vision of building a Bitcoin-secured decentralized world. The latest software development is the world's first trust less and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on other decentralized systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling stakers to earn staking rewards without the need for third-party custody, bridge solutions, or wrapping services. The greater idea is to combine the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin's utility. BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, trading, financing, and settlement out of regulated cold storage. Founded in 2013, BitGo is the first digital asset company to focus exclusively on serving institutional clients. BitGo is the world's largest independent digital asset custodian with multiple regulated entities across the globe and over 2,000 clients across 90 countries.
Associated Press
10-04-2025
- Business
- Associated Press
Babylon Genesis is Live: Secured by Bitcoin to Unite the Decentralized World
TORTOLA, British Virgin Islands, April 10, 2025 (Bitwire) -– Babylon Genesis, the world's first L1 blockchain secured by Bitcoin, officially launches today, representing a historic moment for Bitcoin utility. This launch cements the Babylon Bitcoin staking protocol as the foundational infrastructure layer for Bitcoin and the most impactful staking solution in the web3 ecosystem, transforming idle Bitcoin into the backbone of the decentralized economy and unlocking its full utility. The Babylon protocol addresses the fundamental issues of two largely disconnected halves of the decentralized ecosystem: the idle potential of Bitcoin and Web3's demand for security, liquidity, and active users. With the groundbreaking Babylon Bitcoin staking protocol, Bitcoin holders can now safely stake their assets to provide security and liquidity to other decentralized networks and earn rewards in return, all without giving up custody of their Bitcoin. This way, the value and user base that Bitcoin captured through mainstream adoption can also be channeled to other decentralized systems, resulting in a more united decentralized world and accelerating its path towards mainstream adoption. During Phase-1, over 57000 BTC were staked on the Babylon protocol, showing strong momentum on the Bitcoin side. Bitgo, one of the top-3 largest qualified custodian for crypto assets, recently announced that they will be supporting BTC staking as well as custody and staking for BABY, Babylon Genesis' native token. Anchorage Digital, another top institutional crypto custody provider, also announced that they will be supporting BTC staking through the Babylon Bitcoin staking protocol, as well as BABY staking. Further, leading wallet providers like Binance Wallet, OKX Wallet, UniSat, and Xverse are going to support Bitcoin staking from day 1. Babylon Genesis represents the successful completion of the second phase in a three-phase launch, and introduces Bitcoin's security to the broader blockchain ecosystem. The blockchain will serve three essential functions: The very first Bitcoin Secured Network (BSN): Uses Bitcoin staking and timestamping to leverage Bitcoin security. Bitcoin Timestamping not only protects against long-range attacks, it enables faster unbonding times (~50 hours for BABY stake, ~7 days for Bitcoin stake). Control plane: Coordinating other BSNs with Bitcoin to help them access Bitcoin's security and liquidity with minimal integration efforts. Liquidity hub: Securely manages Bitcoin liquidity via on-chain applications. Babylon Genesis's Bitcoin traction, benefits to other decentralized networks, and its easy integrations, have attracted adoptions from many networks who have committed to becoming BSNs like Osmosis, TAC, BOB and Corn. Babylon Genesis also facilitates rich on-chain dapps, including: Tower: A decentralized exchange (DEX) for BTCFi. Satlayer: A BTC restaking protocol & BABY liquid staking token (LST) solution Escher: A BABY LST protocol built for DeFi. Milkyway: A modular BABY staking portal for liquid staking and restaking. Further, Babylon Genesis will be supported by bridges, including IBC Eureka (Skip-Go), Union IBC, and Axelar (via Squid), to help interoperability across multiple blockchain ecosystems. Babylon Genesis is powered by well-balanced tokenomics. 8% annual inflation, with half going to BTC stakers, and the other half going to BABY stakers. The token distribution focuses on long-term building. 4-year unlocking on Investor and team and advisor and no staking of locked tokens in year-1. On top of the many BSNs and wallet providers committed to supporting Babylon Genesis and Babylon Bitcoin staking protocol, the Babylon ecosystem is launching with a robust lineup of over 15 leading LSTs (like Lombard, Solv, Pump and Bedrock), and over 250 Finality Providers (FPs, like P2P, Kiln, Chorus One, Figment and Galaxy) to help drive adoption and liquidity from launch. 'Bitcoin has always been the benchmark for security, but until today, that security has been limited to the Bitcoin network itself,' said Fisher Yu, Co-Founder of the Babylon project. 'Through Babylon Genesis, Bitcoin is evolving from an underutilized asset into a dynamic cornerstone of the broader digital economy.' For the first time, Bitcoin's unmatched security resources are securely linked to the wider blockchain ecosystem, providing shared security, liquidity, and utility without compromising self-custody. This launch marks a pivotal moment where Bitcoin's economic gravity extends beyond its own chain.' For a deep dive into the three facets of Babylon Genesis, read more here. Babylon Labs focuses on Bitcoin security-sharing protocols with a vision of building a Bitcoin-secured decentralized world. The latest software development is the world's first trustless and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on other decentralized systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling stakers to earn staking rewards without the need for third-party custody, bridge solutions, or wrapping services. The greater idea is to combine the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin's utility.
Associated Press
10-04-2025
- Business
- Associated Press
Axelar Connects Babylon Genesis' BABY to Global Web3, Bringing Bitcoin Staking to 70+ Chains
The Babylon Genesis chain mainnet, which supports native Bitcoin (BTC) staking directly on the Bitcoin ledger, is now live with activated finality providers and BABY rewards for BTC stakers. Alongside these advancements, Babylon Genesis and Axelar, the leading Web3 interoperability platform, are integrating to provide a seamless bridge connecting the Babylon Genesis ecosystem and its native token, BABY, to the global network of Web3. 'With Axelar's integration, the Babylon Genesis ecosystem is now accessible across more than 70 blockchain ecosystems,' said Clayton Menzel, Head of BD at Babylon Labs. 'This marks a major step towards Bitcoin becoming the security foundation of the decentralized world. Developers and users can now tap into the Bitcoin staking protocol and extend its benefits beyond a single chain.' A new era for Bitcoin and cross-chain innovation By preserving BTC's self-custody model, Babylon Genesis orchestrates a marketplace of Proof-of-Stake networks eager for robust security. The BABY token unites this ecosystem under a transparent governance structure, rewarding early adopters and key contributors. Babylon Genesis is already reshaping decentralized finance (DeFi) by channeling Bitcoin's stability and liquidity into the broader crypto ecosystem. 'Bitcoin's status as an institutionalized asset not only reinforces its value as a store of wealth but also enables it to play a critical role in the innovation happening on-chain,' said Georgios Vlachos, co-founder of Axelar protocol and director at Axelar Foundation. 'This integration opens up new horizons for developers to freely compose cross-chain applications and unlocks groundbreaking use cases across the decentralized landscape – with verification tied back to Bitcoin, the original distributed ledger.' Decentralized and open-source interoperability As a leading decentralized and open-source interoperability platform, Axelar serves as an ideal bridge for Babylon Genesis' BABY token. Axelar offers battle-tested infrastructure with over $11 billion in cross-chain volume, the broadest blockchain connections across 70+ networks, and an Interchain Token Service that simplifies cross-chain token management. Axelar provides BABY with widespread availability for use in various applications. Builders incorporating Bitcoin staking can tap into a rich toolset that includes: Interchain Token Service (ITS): Issue and upgrade tokens so they move as-native across blockchains; leave traditional bridges behind. Interchain Amplifier: Connect any new blockchain or off-chain resource permissionlessly; it's as easy as deploying a smart contract. Get started Babylon Genesis and Axelar are committed to empowering developers, institutions and users to unlock the full potential of Bitcoin for cross-chain innovation. Several Babylon ecosystem teams are already building integrations into Axelar, including EtherFi, Kinza, Lorenzo and Tower. Bridging routes are coming online in a matter of days: join the Axelar Announcements channel on Telegram at for timely updates. About Axelar Axelar is the Web3 interoperability platform, delivering the shortest path to scale: an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups with a combined total value locked (TVL) that has crossed $1 billion. Axelar supports a best-in-class developer stack on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: About Axelar Foundation Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized blockchain interoperability platform that connects multiple blockchain ecosystems. Learn more at About Babylon Labs Babylon Labs focuses on Bitcoin security-sharing protocols with a vision of building a Bitcoin-secured decentralized world. The latest software development is the world's first trustless and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on other decentralized systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling stakers to earn staking rewards without the need for third-party custody, bridge solutions, or wrapping services. The greater idea is to combine the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin's utility. PR Director, MarketWaves (754) 215-4315 SOURCE: Axelar Copyright Business Wire 2025. PUB: 04/10/2025 06:30 AM/DISC: 04/10/2025 06:31 AM
