Lombard Finance has acquired the live on-chain infrastructure of BTC.b, a $538M Bitcoin asset on Avalanche. The firm plans to channel this flow across Ethereum, Solana, and other major chains starting next year.
Summary
- Lombard Finance acquires BTC.b, a $538M Bitcoin asset on Avalanche, along with its infrastructure and 12,500-address user base.
- The firm plans to migrate BTC.b to its decentralized protocol by Q4 2025, secured by 15 institutional entities.
- BTC.b will expand beyond Avalanche to Ethereum, Solana, and MegaEth, with integration into Lombard’s vault products used by Binance and Bybit.
On Oct. 30, Bitcoin DeFi protocol Lombard Finance announced its acquisition of the core infrastructure behind BTC.b, effectively taking control of the leading Bitcoin representation on the Avalanche network.
The deal sees Lombard absorbing the operational protocol, its user base of over 12,500 addresses, and its established integrations within Avalanche’s DeFi ecosystem, including major platforms like Aave and GMX.
Lombard’s blueprint for Bitcoin capital markets onchain
Lombard’s acquisition of BTC.b goes beyond taking over an existing token, with plans to migrate the bridged Bitcoin asset’s core infrastructure to its own protocol, which is secured by a decentralized consortium of 15 institutional entities.
This transition, slated for completion by Q4 2025, will also integrate Chainlink’s Cross-Chain Interoperability Protocol for bridging and its Proof of Reserve for verifiable backing, marking a substantial security and capability upgrade from its current state.
“Acquiring BTC.b infrastructure is a natural extension of Lombard’s mission to make Bitcoin more usable and accessible onchain. With BTC.b, we are expanding our product suite with a permissionless, non-custodial, and institutionally supported asset that complements LBTC and offers onchain users an alternative to centralized wrapped BTC assets,” Lombard co-founder Jacob Phillips said.
For developers, the value proposition lies in Lombard’s Software Development Kit. The plan is to natively integrate BTC.b into this toolkit, enabling DeFi applications to incorporate the asset with minimal mint and redeem fees.
For the existing BTC.b community and its integrations, Lombard has pledged a seamless transition. The asset’s contract address, name, and current placements within protocols like Aave will remain untouched, ensuring no disruption for current holders.
Lombard also plans to extend BTC.b’s reach well beyond Avalanche. The protocol confirmed plans to introduce the asset to Ethereum Mainnet, Solana, and MegaEth. This cross-chain expansion will be bolstered by incorporating BTC.b into Lombard’s vault products, which are already utilized by major exchanges like Binance and Bybit, signaling a concerted push for institutional and retail distribution.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Two Prime Deposits 3,946 BTC Worth $274M to Ceffu Over Past Week
Gate News bot message, Two Prime deposited 3,946 BTC (valued at $274 million) to Ceffu over the past week. During the same period, Two Prime also withdrew $173 million from Ceffu. The transaction activity shows Two Prime moving large amounts of Bitcoin.
GateNews1m ago
Bitcoin 90-day realized profit and loss ratio has been below 1 since February 21, maintaining an excess loss realization state.
Gate News Report, March 11 — According to data from the crypto analytics firm Glassnode, the 90-day profit and loss ratio (90D-SMA) of Bitcoin has remained below 1 since February 21, maintaining an overall state of excess loss. Historical data shows that after this indicator drops below 1, it typically takes more than 6 months to recover, during which market liquidity remains in a waiting phase for a return.
GateNews14m ago
'Black Swan' Author Nassim Taleb Believes Elon Musk's X Money is 'Much Smarter' Than Bitcoin - U.Today
Elon Musk's X Money will enter early access in April, with Nassim Taleb praising it as a superior alternative to Bitcoin. He argues it promotes competition in currency issuance, functional daily use, and is backed by a robust infrastructure, unlike volatile cryptocurrencies.
UToday20m ago
Bitwise Chief Investment Officer: Bitcoin Breaking $1 Million Is Not a Dream! Revealing the Ultimate Formula Institutions Use to Price BTC
Bitwise Investment Chief Matt Hougan pointed out in a recent memo that Bitcoin has the potential to reach $1 million, as the global store of value market is actually expanding continuously. If the market expands to $121 trillion over the next 10 years, Bitcoin would only need to capture 17% of the market share to achieve this goal. With institutional investors entering the space, this scenario is not out of reach.
動區BlockTempo27m ago
Over the past 24 hours, the entire network has experienced liquidations of $205 million, with both longs and shorts being wiped out.
According to CoinGlass data, on March 11, the total liquidation amount in the cryptocurrency market over the past 24 hours reached $205 million, involving both long and short positions. Both BTC and ETH experienced significant liquidations, affecting 95,427 people, with the largest single liquidation valued at nearly $2 million.
GateNews41m ago
