Bitmax, the largest Bitcoin-holding company in South Korea, announced on June 23 that it will pursue Bitcoin staking in order to strengthen its Bitcoin-based corporate treasury strategy (BTC Corporate Treasury Strategy).
Bitmax plans to operate the necessary Finality Provider for the staking process through its wholly owned Japanese subsidiary. To ensure stable Bitcoin staking, Bitmax will collaborate with Babylon Labs, which developed the world's first Bitcoin staking protocol.
By utilizing Babylon Labs' Bitcoin staking protocol, Bitcoin holders can stake their Bitcoin directly on the Bitcoin network using a self-custody method. This approach enables more secure protection for various networks, including Proof-of-Stake (PoS) chains, Layer 2 (L2) networks, and Data Availability (DA) layers.
To support Bitmax's latest initiative, Babylon Labs will provide related technical consulting, and both companies plan to expand their collaboration on the Bitcoin ecosystem in the future.
A Bitmax representative stated, "Our collaboration with Babylon Labs is significant as a proactive response to regulatory changes in the domestic virtual asset market," and added, "As demand for virtual asset management by institutional and corporate investors surges, Bitmax is expanding its business beyond simple asset holding to generating returns from virtual assets."
A Babylon Labs representative commented, "South Korea is a market with significant growth potential in terms of regulatory transparency and increased institutional participation," and added, "Our partnership with Bitmax, the company holding the most Bitcoin in South Korea, will serve as an important foundation for the expansion of Bitcoin staking in Asia."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
