BITS is now live on Core, bringing institutional-grade Bitcoin yield to the Bitcoin Everything Chain. This new yield protocol enables institutions to earn passive income on BTC and wBTC through a secure, transparent, and fully compliant platform designed for institutional standards.
How BITS Works
When users deposit BTC or wBTC into BITS, their assets are held with BitGo, one of the most trusted Bitcoin custodians globally. BITS lends that BTC to pre-approved institutional borrowers like Coinbase and Tether under carefully structured terms.
In return, depositors receive $BITS, a 1:1 on-chain receipt that mirrors their BTC balance and grows in value as interest accrues. Users can hold or use their $BITS throughout Core's DeFi ecosystem, or lock their $BITS for 5 months to boost their yield from the base rate of approximately 2.4% APY to around 4.4% APY.
Institutional-Grade Infrastructure
BITS addresses the compliance and oversight requirements that have kept many institutions on the sidelines of DeFi. The protocol features fully KYC'd users, with assets held securely with BitGo's qualified custody. Every wallet and transaction remains viewable on-chain, delivering DeFi transparency while maintaining institutional oversight.
Risk is controlled through a vetted borrower system where only approved institutional entities can access BTC, with monitored collateral requirements.
Built on Core's Bitcoin Infrastructure
BITS runs on Core, providing low gas fees, full smart contract functionality, and native alignment with Bitcoin's monetary properties. As Core's ecosystem grows, $BITS can be used across lending markets, DEXs, and structured products on a chain that speaks Bitcoin's language.
Designed for Institutional Stability
BITS implements a 32-day cooldown period for withdrawals, followed by release on the next U.S. business day. This protects the system from sudden liquidity crunches and helps BITS safely manage its institutional loans, providing institutions with a durable yield product with real-world protections.
Core Ecosystem Integration
$BITS is fully composable across Core's Bitcoin DeFi ecosystem. Users can provide $BITS liquidity in DEX pools, use it as collateral in lending protocols, or participate in other DeFi strategies while maintaining their Bitcoin exposure and earning institutional-grade yield.
What's Next
BITS is live today on Core with upcoming developments including deeper liquidity for $BITS on Core DEXs, expanded integrations across Core DeFi protocols, and public audits to support broader institutional onboarding.
Real Bitcoin Yield for Institutions
BITS provides institutions with the transparency and composability of on-chain protocols while maintaining the compliance and oversight standards they require. For institutions holding BTC or wBTC seeking a compliant, transparent way to earn yield without leaving the Bitcoin ecosystem, BITS offers real Bitcoin yield built for long-term institutional adoption.