Strategic Investment in Lombard to Transform Bitcoin Liquidity

Summary:
Location: Singapore
Date: July 9, 2024
HTX Ventures, the investment arm of cryptocurrency exchange HTX, has announced a strategic investment in Lombard, a restaking protocol aimed at enhancing the Bitcoin ecosystem. Lombard utilizes the Bitcoin staking protocol Babylon to increase the liquidity of staked BTC by issuing LBTC, a liquid and yield-bearing representation of Bitcoin. LBTC will be integrated into major decentralized finance (DeFi) protocols on the Ethereum Mainnet and Layer 2 chains later this year.
Edward, Managing Partner at HTX Ventures, highlighted that Lombard is driving a significant transformation in the Bitcoin ecosystem by enabling Bitcoin to be lent, borrowed, and traded, thus unlocking substantial utility for Bitcoin holders. Jacob Phillips, Co-founder of Lombard, expressed excitement about the partnership, emphasizing that LBTC will bring new liquidity and users to DeFi protocols.
Lombard, founded in April 2024, aims to connect Bitcoin to DeFi, transforming it into a dynamic financial tool. HTX Ventures, with a decade-long history in the blockchain sector, supports over 300 projects and collaborates with leading global blockchain funds.
For more information, visit Lombard’s website and join the LBTC waitlist for early access and rewards. Contact HTX Ventures via email at [email protected].