According to Odaily Planet Daily, Lombard publicly launched LBTC, a cross-chain interest-bearing Bitcoin token designed for DeFi use. The team said the launch followed a successful internal test that attracted $165 million in deposits from more than 600 institutional investors.
LBTC allows users to stake Bitcoin through Babylon and use it in various DeFi protocols. Initial integrations include major DeFi protocols such as Symbiotic, Morpho, Pendle, Corn, Gauntlet, Derive, EtherFi, and Gearbox.