According to TechFlow, on October 16, The Block reported that Binance Labs invested in Lombard, a Bitcoin liquidity pledge platform. Lombard's total financing amount is currently around $17 million. This is an increase from the $16 million seed round of financing about four months ago, in which Binance Labs invested about $1 million.

It is reported that Lombard's LBTC has been used for collateralized lending, yield farming, and trading in a variety of DeFi protocols. Binance Labs' investment will further promote the application and growth of Bitcoin in the DeFi field.