Stacks Genesis Bond Attracts Institutional BTC from UTXO and Others
UTXO, a company owned by Nakamoto Inc., has joined two other institutions in participating in Stacks' Genesis Bond. This program routes institutional Bitcoin into Stacks' staking mechanism to earn a yield on those deposited BTC.
The anchor participants include UTXO alongside HashKey Cloud and 21Shares. The Genesis Bond's purpose is to unlock STX staking capacity for the deposited bitcoin, making each bonded BTC position dependent on STX to activate yield.
Self-custodial Bitcoin staking will go live in three days, according to the announcement.