The investment, worth over $19M at current prices, coincides with Mezo’s launch of Bitcoin yield vaults for institutional clients.
Bullish, the publicly listed digital asset exchange and parent company of CoinDesk, has invested 250 BTC — roughly $19 million — into Mezo, a Bitcoin DeFi-focused protocol, per a press release shared with The Defiant. The investment coincides with the launch of Mezo Prime, a new institutional yield product built in partnership with Anchorage Digital Bank.
Bullish will become the first company to use Mezo Prime with Anchorage, deploying a portion of its corporate Bitcoin treasury into the product. Anchorage is the custody provider for the vaults, per the release, and Mezo Prime is now available to Anchorage Digital Bank clients.
Mezo Prime centers on “Enclaves” — segregated Bitcoin vaults designed for institutional depositors. Bitcoin deposited into an Enclave can be locked as veBTC to earn protocol fees or used as collateral to borrow MUSD, Mezo’s Bitcoin-backed stablecoin, the release notes.
“Over a million Bitcoin sits on corporate balance sheets today, and almost none of it is working,” said Matt Luongo, co-founder of Mezo.
The launch comes as the broader BTCFi space continues to expand. Institutions in particular have faced a gap between wanting to earn yield on BTC holdings, and meeting their risk and compliance requirements. Late last year, The Defiant reported that Threshold Network had updated its tBTC bridge to make it easier for institutional Bitcoin holders to deploy their funds in DeFi.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
Source: https://thedefiant.io/news/tradfi-and-fintech/bullish-invests-250-btc-mezo-institutional-bitcoin-yield-vaults
