{"id":51771,"date":"2021-10-26T13:08:41","date_gmt":"2021-10-26T10:08:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51771"},"modified":"2025-09-03T01:33:21","modified_gmt":"2025-09-02T22:33:21","slug":"bitgo-offers-institutions-bitcoin-yield-via-stacks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitgo-offers-institutions-bitcoin-yield-via-stacks\/","title":{"rendered":"BitGo offers institutions Bitcoin yield via Stacks"},"content":{"rendered":"<p>BitGo, the custodian, has started offering clients a way to earn Bitcoin yield via Stacks (STX), the native token of Blockstack.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: <a href=\"https:\/\/twitter.com\/BitGo?ref_src=twsrc%5Etfw\">@BitGo<\/a> integrates <a href=\"https:\/\/twitter.com\/search?q=%24STX&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$STX<\/a> \ud83d\udd25<\/p>\n<p>\u00abBitGo Co-founder and CEO <a href=\"https:\/\/twitter.com\/mikebelshe?ref_src=twsrc%5Etfw\">@mikebelshe<\/a> said his company integrated Stacks because financial institutions have been looking for a secure access point to the DeFi market.\u00bb <a href=\"https:\/\/t.co\/RvChYzViKv\">https:\/\/t.co\/RvChYzViKv<\/a><\/p>\n<p>\u2014 stacks.btc (@Stacks) <a href=\"https:\/\/twitter.com\/Stacks\/status\/1452695617956761600?ref_src=twsrc%5Etfw\">October 25, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Stacks is an open-source network for building smart contracts and DeFi bridges to Bitcoin. Initially the protocol used the hash power of the Bitcoin network in combination with a Proof-of-Burn mechanism.<\/p>\n<p>Later, the team developed a new consensus mechanism (Proof-of-Transfer, PoX). With the January 2021 launch of Stacks 2.0, stakers began earning BTC income, while miners used digital gold to mine STX.<\/p>\n<p>According to co-founder Muneeb Ali of Stacks, PoX can incentivize participation in the network by offering Bitcoin rewards, something that was not possible before the protocol.<\/p>\n<p>STX holders will also gain access to BitGo&#8217;s insurance, asset protection and portfolio management solutions. According to BitGo&#8217;s CEO Mike Belshe, the company took this step due to interest from financial institutions in the DeFi market.<\/p>\n<p>Blockstack was founded in 2013. The project, also known for its work on a decentralized Internet, has previously attracted $50 million in funding from notable blockchain figures and venture firms, including the Winklevoss brothers, Union Square Ventures, Digital Currency Group and Version One.<\/p>\n<p>In 2019, Blockstack became the first company to receive SEC approval to conduct a token sale under Regulation A+.<\/p>\n<p>In September 2019, the blockchain wallet provider Blockchain announced the start of STX support in its lineup of products for retail and institutional investors. In the same month Blockstack raised $23 million in the first regulated crowdsale in the United States.<\/p>\n<p>In 2020 the company said it had reached one million registered users and gained access to $6.8 million in funding.<\/p>\n<p>In August 2020 Blockstack provided the Stacks Foundation <a href=\"https:\/\/u1f987.com\/en\/news\/blockstack-to-transfer-27-million-worth-of-tokens-to-the-stacks-foundation-to-bolster-decentralisation\">100 million tokens of STX worth a total of $27 million<\/a> to boost decentralization.<\/p>\n<p>As noted in October 2021, BitGo&#8217;s regional director for <span data-descr=\"Europe, Middle East and Africa\" class=\"old_tooltip\">EMEA<\/span> Darren Jordan, noted<a href=\"https:\/\/u1f987.com\/en\/news\/bitgo-notes-sustained-corporate-demand-for-regular-bitcoin-purchases\"> demand from corporations for regular Bitcoin purchases<\/a>.<\/p>\n<p>Subscribe to ForkLog&#8217;s <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BitGo, the custodian, has given clients the opportunity to earn Bitcoin income via Stacks (STX), the native token of the Blockstack project.<\/p>\n","protected":false},"author":1,"featured_media":51772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[194,969,1156],"class_list":["post-51771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitgo","tag-blockstack","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51771"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51771\/revisions"}],"predecessor-version":[{"id":51773,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51771\/revisions\/51773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51772"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}