Latest news with #BrendonSedo
Yahoo
5 days ago
- Business
- Yahoo
Core Foundation, Bitcoin Layer 1 With Over $500M Staked BTC, Adds BitGo and KODA as Validators
It's raining institutional activity across all corners of the digital asset ecosystem. Core Foundation, which leverages Bitcoin's security and infrastructure to create a Proof-of-Stake (PoS) layer and a DeFi ecosystem, announced BitGo and KODA as validator sets for the Core network, marking a significant step forward in institutional adoption of Bitcoin-native DeFi. The onboarding of BitGo, a U.S.-qualified institutional-grade custodian and financial services company, brings a legacy of regulatory credibility and security-first principles to the validator set, now comprising 29 members, the press release shared exclusively with CoinDesk stated. Integrating with KODA, the South Korean institutional custodian powered by Nodeinfra, will expands Core's footprints in Asia. In Korea, over 20% of the population owns crypto, and KODA's presence on Core is expected to accelerate the latter's growth in staking and institutional yield in the region. "Adding BitGo and KODA as validators on Core marks a significant expansion of the validator set. These two leading custodians will further support Core's efforts to scale Bitcoin utility and drive institutional adoption of scalable Bitcoin yield products," Brendon Sedo, Core's initial contributor, said. Nodeinfra's CEO, John Youngseok Yang, stated that the strategic partnership will lay the groundwork for institutional BTC staking in Korea. The Core blockchain (CORE) is a scaling and programmability solution for Bitcoin powered by its Satoshi Plus consensus, a hybrid mechanism that allows BTC miners, BTC holders and CORE stakers to participate in consensus. It combines elements of Proof of Work and Proof of Stake to ensure security while maintaining scalability without compromising decentralization. As of writing, more than $500 million in BTC is staked with the network, supposedly secured by approximately 75% of the Bitcoin hashrate, making it the most Bitcoin-aligned Layer 1, according to the press release. Core powers institutional-grade products such as lstBTC, a liquid and yield-bearing representation of BTC that can be used as collateral across major exchanges, and Valour's Yield-Bearing BTC ETP, which provides regulated exposure to Bitcoin yield. Core is among the leading projects addressing the Bitcoin blockchain's limited programmability and lack of native yield to accelerate BTC DeFi. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
21-03-2025
- Business
- Associated Press
KODA Integrates with Bitcoin Staking Chain Core, Paving the Way for Increased Institutional Adoption in Korea
Seoul, South Korea, March 21, 2025 (GLOBE NEWSWIRE) -- KODA, the largest custody provider in South Korea, has integrated Core - Bitcoin's first Proof of Stake (PoS) layer and the largest Bitcoin DeFi ecosystem, making it the first Bitcoin scaling blockchain KODA supports. This development underscores the growing momentum of Bitcoin staking in a key crypto-active market. For years, Korea has been a powerhouse in crypto adoption. Korean exchanges see billions in daily volume, and the country's retail traders shape global price trends. And, now institutional interest and adoption in Korea are on the rise, with KODA establishing itself as the market leader. With this integration, users will gain access to CORE, the native token of the Core blockchain, while also contributing to the development of regulated Bitcoin staking services in the Korean market through KODA and Core as the regulatory landscape matures. Why This is Big KODA's integration means Core is now supported by the leading custodian in Korea. KODA, which already supports major blockchains like BNB Chain, Base, Polygon, and Solana, is now integrating its first Bitcoin-scaling chain. This marks a significant step forward in expanding Bitcoin DeFi in Korea, setting the stage for greater adoption and innovation in the space. 'KODA has established itself as a pioneer in the institutional space, bringing fully licensed and innovative solutions to institutions in Korea. We are excited to partner with such a trusted and forward-thinking company to introduce Core to the region—and, in time, unlock new opportunities for institutional Bitcoin yield. This collaboration marks an important step in expanding access to secure and scalable blockchain solutions for Korean institutions,' said Brendon Sedo, Initial contributor to Core 'As a leading provider of secure and trusted digital asset custody services for institutional investors in Korea, KODA is pleased to collaborate with Core to expand Bitcoin-based yield opportunities. This integration marks a significant milestone in enhancing Bitcoin's scalability and utility, enabling institutional investors in Korea to engage with Bitcoin in a more efficient and regulatory-compliant manner. KODA remains committed to providing innovative solutions that allow institutions to securely manage and utilize digital assets.' — Jin-seok Cho, CEO of Korea Digital Asset (KODA) Bitcoin Staking on the Horizon Core is built to unlock Bitcoin staking, something that was previously only possible through centralized platforms. Since launching the offering in April 2024, over 6,000 BTC have been staked with Core. With KODA's integration, Korean institutions will soon have the opportunity to explore Bitcoin yield powered by Core—directly, without relinquishing control of their BTC. What Comes Next? The integration is live, and Core is excited about its continued expansion in the Korean market Core is currently listed on Bithumb, allowing access to the local market to use CORE and access on chain products Preparing for potential regulation changes in the region that would enable institutions to access staking products with trusted custodians as the institutional on-ramp for Bitcoin yield in the region. Based on recent developments South Korea is preparing to relax its restrictions on crypto trading for institutional investors, signaling a potential significant shift in the country's approach to digital asset regulation. Although institutional investors are not explicitly banned, banks in Korea are restricted from opening crypto trading accounts on their behalf. This integration comes at a pivotal moment, as the country prepares to unlock institutional crypto investment with new guidelines due Q3. Core provides investors with a secure and sustainable way to earn yield on their Bitcoin securely. Industry leaders such as BitGo, Hashnote, Maple, and Copper have placed their trust in Core. Additionally, this development will expand access to lstBTC, the liquid staking, yield-bearing token launched on February 17th through a collaboration between Core and Maple. For a deeper dive into the state of Bitcoin staking and its growing adoption, read Core's latest report, BTC Yield for Institutions, by Reflexivity Research. About Core Core is a high-performance EVM Layer-1 blockchain secured by Bitcoin, unlocking institutional yield opportunities through Bitcoin staking. Bitcoin holders secure Core to earn CORE block rewards and transaction fees. In collaboration with top custodians and asset managers, Core enhances Bitcoin's capital efficiency and programmability. Core powers innovative products such as lstBTC, which enables Bitcoin holders to earn yield without sacrificing liquidity or security, Valour's yield-bearing BTC ETP. Currently ranked #15 in on-chain TVL and #9 in UAW, Core is also one of the fastest-growing blockchains and a leader in institutional Bitcoin innovation. Korea Digital Asset (KODA is a leading digital asset custodian in South Korea, providing custody services for institutional and corporate investors. KODA is backed by major shareholders, including KB Kookmin Bank (Korea's largest financial institution), Hashed (a blockchain-focused investment firm), Altos Ventures, and Samsung Asset Management (Korea's No.1 ETF manager). KODA ensures the highest level of security through cold wallet storage, multi-signature security, and internal controls equivalent to top-tier financial institutions, offering institutional investors a secure and reliable digital asset management solution.
