HTX Ventures, the global investment arm of cryptocurrency exchange HTX, has made a strategic investment in Lombard, a restaking protocol aimed at transforming Bitcoin into a productive financial asset. Lombard leverages the Bitcoin staking protocol Babylon to enable Bitcoin to secure other proof-of-stake networks. The company’s innovative approach involves the issuance of LBTC, a liquid and yield-bearing representation of BTC that can serve as collateral across various chains and decentralized finance (DeFi) platforms. This move aims to unlock significant liquidity and utility for Bitcoin holders and enhance the overall BTC ecosystem. Lombard’s LBTC is set to integrate with major DeFi protocols on the Ethereum Mainnet and Layer 2 chains later in the year, expanding Bitcoin’s functionality within the Web3 ecosystem. HTX Ventures’ investment supports Lombard’s mission to accelerate on-chain finance and bring new liquidity and users to DeFi protocols and exchange platforms.

Cryptocurrency, Decentralized Finance (DeFi), Investments, Blockchain,Singapore