HTX Ventures, the global investment arm of HTX cryptocurrency exchange, has announced a strategic investment in Lombard to enhance the liquidity and ecosystem for Bitcoin. Lombard is a restaking protocol that aims to transform Bitcoin from a static store of value into a productive financial asset, thereby catalyzing growth across the Web3 ecosystem.
Lombard's restaking product is built on top of the Bitcoin staking protocol Babylon, which allows individuals to use Bitcoin to secure other proof-of-stake networks. By issuing LBTC, a liquid and yield-bearing representation of Bitcoin, Lombard increases liquidity for staked BTC. LBTC is designed to move seamlessly across chains and decentralized finance (DeFi) platforms as collateral without compromising security. The LBTC token will soon be integrated into popular DeFi protocols on the Ethereum Mainnet, with plans to launch on widely used Layer 2 (L2) chains later this year.
Edward, Managing Partner at HTX Ventures, remarked, “Liquid restaking is the next revolution for the Bitcoin Ecosystem, and Lombard is the project driving this transformation. Lombard is rapidly expanding to onboard the LBTC token onto major ecosystems and DeFi protocols. This will enable Bitcoin to be lent, borrowed, and traded, unlocking tremendous utility for Bitcoin holders and revitalizing the BTC ecosystem. HTX Ventures is incredibly excited to partner with Lombard to empower Bitcoin holders and the broader BTC ecosystem.”
Jacob Phillips, Co-founder of Lombard, expressed enthusiasm about the investment, stating, “We are delighted to have HTX Ventures for investing in the development of LBTC as a new core primitive. LBTC will unlock a massive amount of net-new capital into the ecosystem and bring new liquidity and users to DeFi protocols and exchange platforms. HTX Ventures shares Lombard’s mission to accelerate on-chain finance and we look forward to building on these synergies to accelerate the growth of LBTC.”
LBTC will soon be accessible to all and supported by all chains and DeFi protocols. Interested parties can join the LBTC Waitlist for exclusive access to LBTC and rewards for early participation.
HTX Ventures, with a decade-long history as an industry pioneer, is known for identifying cutting-edge technologies and emerging business models within the blockchain sector. The investment in Lombard is part of HTX Ventures' broader strategy to foster growth within the blockchain ecosystem by providing comprehensive support to projects, including financing, resources, and strategic advice.
By integrating LBTC into the most popular DeFi protocols and enabling its use as collateral across multiple platforms, this partnership between HTX Ventures and Lombard is set to unlock new potentials for Bitcoin, making it a dynamic financial tool within the DeFi space. This development is expected to bring new liquidity, users, and capital into the ecosystem, thereby accelerating the growth and adoption of decentralized finance.
