On-chain asset manager Hashnote is aiming to capitalize on 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 enables 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 utilize Core’s technology to provide users access to Bitcoin yield without exposing them to additional credit or custody risks.

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

Hong Sun, Institutional contributor at Core

Investors will be able to tap into 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 exposure to Bitcoin with investors getting more through yield.

With Core offering a non-custodial Bitcoin staking mechanism, Hashnote will have full ownership of all staked BTC. The use of Bitcoin’s native timelock also means the staking mechanism does not have features such as trust assumptions, slashing or counterparty risk.

Hashnote plans to use this partnership to establish a foothold in the growing Bitcoin layer-2 bridging market. Recent estimates project this sector could expand into a $47 billion ecosystem by 2030. Per DeFiLlama, Core currently accounts for more than 30% of the total value locked in Bitcoin sidechains.

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