• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Binance Labs Expands Its Presence in DeFi by Investing in Lombard Finance

user avatar

by Giorgi Kostiuk

a year ago

Binance Labs has announced its investment in Lombard Finance, the developer and distributor of LBTC, as part of their strategy to enhance Bitcoin's utility in DeFi.

Investment in Lombard Finance

Binance Labs, the venture capital and incubation arm of Binance, announced its investment in Lombard Finance. Lombard is the developer of LBTC, a Bitcoin liquid staking token that enables both individuals and institutions to earn yield on their investments.

LBTC and its Role in DeFi

LBTC stands as a security-focused token allowing investors to gain returns from their Bitcoin through DeFi investments. By partnering with Babylon, Lombard aims to bridge Bitcoin's security and economic value with DeFi's growth potential.

Lombard's Goals and Plans with Binance Labs Support

With the new funding, Lombard plans to expand LBTC access across new chains, enabling users to stake BTC and mint LBTC. Andy Chang, Chief Investment Officer at Binance Labs, shared his enthusiasm for Lombard's efforts. Jacob Phillips, Co-Founder and Head of Strategy at Lombard, emphasized the importance of this support in achieving their goal of expanding opportunities for Bitcoin holders in DeFi.

“We are incredibly grateful to have Binance Labs on board as we continue to expand the adoption of LBTC as a new foundational primitive.”Jacob Phillips

Binance Labs' investment in Lombard Finance highlights the significance of LBTC and the commitment of both the company and its partners to enhance Bitcoin's role in DeFi.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Historical Success of Binance's Futures Expansion Predicts Increased Trading Volumes

chest

Experts predict that the new perpetual contracts launched by Binance will likely lead to similar trader engagement and market activity as seen in past expansions.

user avatarMaria Gutierrez

North Korean Hackers Target Developers with Fake Job Offers

chest

North Korean hackers are using social engineering tactics to target software and cryptocurrency developers with fake job offers.

user avatarDavid Robinson

Binance Expands Futures Trading with New Perpetual Contracts

chest

Binance has launched new perpetual contracts, including PENGUUSDC and CVXUSDT, offering up to 75x leverage.

user avatarJacob Williams

Increased Trading Activity Expected Following Binance's New Contracts

chest

Increased trading activity is expected following the launch of new perpetual contracts by Binance, attracting both retail and institutional traders.

user avatarZainab Kamara

North Korean Hackers Employ EtherHiding to Target Crypto Users

chest

North Korean hackers have developed a method called EtherHiding to embed malware in smart contracts on public blockchains, targeting crypto users to steal funds and sensitive information.

user avatarAndrew Smith

Trump Claims Improvement in US-China Relations

chest

US President Trump reportedly expressed satisfaction with US-China relations, stating they are getting along very well, but the statement remains unverified.

user avatarSon Min-ho

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.