
Valour, Core Foundation Collaborate on Yield Bearing BTC ETP
DeFi Technologies Inc., a fintech company, announced that its subsidiary, Valour and Valour Digital Securities, an issuer of exchange traded products (ETPs) that provide access to digital assets, has entered a collaboration with the Core Foundation, an organization dedicated to the development of the Core blockchain network.
This collaboration is set to develop ETPs that leverage Core Chain’s blockchain capabilities, introducing a “first-of-its-kind” yield bearing BTC ETP and a Core ETP. Valour and DeFi Technologies are reportedly going to contribute approximately $200 million to the fund and investors will be able to start buying the ETP shortly.
Core Chain is a bitcoin-powered, Ethereum Virtual Machine (EVM)-compatible blockchain that incorporates Bitcoin miners and BTC stakers into its security in exchange for rewards.
The aim is to “redefine” Bitcoin’s utility as an investment opportunity within the digital asset ecosystem, granting BTC native yield through non-custodial BTC staking, the firm said.
Valour additionally plans to stake $100 million in BTC with Core Chain.