CandleFocus Binance Labs Invests in Lombard to Connect Bitcoin to DeFi
2024-10-16
Author: Content Editor
Binance Labs, a venture capital and incubator, has invested in Lombard, the developer and distributor of LBTC, a security-first Bitcoin liquid staked token (LST). Lombard's LBTC allows individuals and large institutions to earn yield on their Bitcoin while leveraging their assets in decentralized finance (DeFi). Lombard has quickly grown since its launch in August and currently holds 40% of the Bitcoin LST market, with a Total Value Locked of over $500 million. With Binance Labs' funding, Lombard plans to expand access to LBTC across new chains and integrate with top Ethereum DeFi protocols. Their goal is to unlock opportunities for Bitcoin holders in the DeFi space.
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