Haruko to improve digital asset management by integrating with Stacks
Haruko, a leading provider of digital asset solutions for institutions, has revealed its intention to merge with Stacks (STX), the top-tier Layer-2 solution for Bitcoin (BTC), in a recent announcement made to Finbold on June 7th.
This integration, once implemented, aims to simplify the management of Stacks exposure for institutional investors and utilize Bitcoin as a programmable asset. Mitchell Cuevas, the Executive Director at the Stacks Foundation, highlighted the importance of this partnership, stating:
“By joining forces with reputable platforms like Haruko, Stacks becomes more accessible to key players, thus promoting the global activation of the Bitcoin economy.”
– Mitchell Cuevas, Executive Director at the Stacks Foundation
Improved investment and risk management for institutional investors
Through the integration of Stacks into Haruko, institutional investors will have the ability to invest in, monitor, and handle their STX investments alongside other assets. This collaboration will allow hedge funds and other institutional investors to trade, manage risks, and generate reports for their STX holdings via Haruko’s centralized platform.
Furthermore, clients of Haruko will benefit from improved transparency and control, enabling them to manage risks more effectively while taking advantage of the security and stability provided by the Stacks blockchain. The integration also promises simplified management of Stacks exposure and Bitcoin-based digital assets, seamless consolidation of transactions, smart contracts, and non-fungible tokens (NFTs), as well as increased security and stability through Stacks.
Paving the way for the introduction of sBTC
This integration underscores Haruko’s dedication to offering cutting-edge solutions for institutional digital asset management. Stacks also provides robust smart contract functionality and decentralized applications (dApps), positioning itself as a key player in the digital asset ecosystem.
With the forthcoming 2024 Nakamoto release, Stacks is poised to deliver faster transaction speeds and enhanced security, paving the way for the introduction of sBTC, a programmable Bitcoin asset. The partnership between Haruko and Stacks will open up new opportunities for institutional investors, allowing them to harness the full potential of passive BTC capital.