Hashnote integrates Core to unlock enhanced Bitcoin yield

On-chain asset manager Hashnote aims to tap into the potential $47 billion Bitcoin bridging market through a strategic integration with Core, a proof-of-stake layer for Bitcoin.

Core is an end-to-end PoS layer for Bitcoin (BTC) that provides non-custodial BTC staking. The platform, whose mainnet went live in January 2023, supports an Ethereum Virtual Machine-compatible Bitcoin finance ecosystem, or BTCfi.

According to a press release shared with Crypto.news, Hashnote will use Core’s technology to provide users with access to Bitcoin yield without exposing users to additional credit or custody risks.

“This collaboration demonstrates the growing demand for secure, sustainable and scalable Bitcoin yield solutions, especially for institutions. Hashnote’s leadership in this space paves the way for an exciting new era in Bitcoin DeFi.”

Hong Sun, Core corporate contributor

Investors will be able to leverage Core’s dual staking tool to earn more by staking BTC as well as CORE, the native token of the Core ecosystem. This means Hashnote will offer access to Bitcoin, with investors gaining more through returns.

With Core offering a non-custodial Bitcoin staking mechanism, Hashnote will have full ownership of all staked BTC. Using Bitcoin’s native time lock also means that the staking mechanism has no trust assumptions, disruption or counterparty risk.

Hashnote plans to use this partnership to gain a foothold in the growing Bitcoin layer-2 bridging market. Latest estimates predict that this industry could grow into a $47 billion ecosystem by 2030. According to DeFiLlama, Core currently accounts for over 30% of the total value locked on Bitcoin sidechains.

The platform has seen over 5,300 BTC staked since April 2024, and its TVL has increased to $920 million since the mainnet.