Bitcoin staking startup Lombard launches ‘high-yield’ LBTC token to Solana

The Block

Aug 28, 2025 21:55:06

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Bitcoin DeFi company Lombard Finance said Thursday that its yield-bearing asset protocol will be accessible on Solana's Layer 1 blockchain, marking the latest tie-up between the two chains.

The company, which considers itself a backer of LBTC, the largest Bitcoin-based yield-token, will introduce the asset to Solana’s largest decentralized applications as part of "day-one integrations" with Jupiter, Drift, Kamino, and Meteora.

"This integration introduces the first yield-bearing Bitcoin asset to Solana at scale, bringing LBTC's $1.5 billion circulating supply and built-in ~1% BTC-denominated yield to one of crypto's most dynamic ecosystems," the team wrote in its statement.

The move is supported by the interchain blockchain communications protocol LayerZero and the RedStone Oracles system, which supports both EVM and non-EVM chains like Ethereum, Polygon, Avalanche, TON, Berachain, Unichain, and Manta Network.

"Bitcoin is the most important asset of our generation, and bringing it to Solana opens tremendous new opportunities," Lombard co-founder Jacob Phillips said in a statement. "LBTC demonstrates what's possible when Bitcoin gains yield, composability, and real market access. Solana's unmatched performance creates the ideal environment for Bitcoin to become productive capital, unlocking new DeFi strategies for BTC holders."

LBTC, developed by Lombard, is a liquid-staked Bitcoin token that is backed 1:1 by BTC and enables yield generation and cross-chain DeFi participation while maintaining Bitcoin's security and liquidity.

In its announcement, Lombard said it represents the "fastest-growing yield-bearing token" in crypto, with LBTC reaching $1 billion TVL in 92 days. The token currently has a total valued locked of over $8 billion, according to DeFiLlama. Lombard's plaform is built on Babylon, another Binance venture bet focused on Bitcoin staking, with LBTC representing Babylon-stake Bitcoin.

Earlier this month, Lombard launched the BARD token through a community sale at a $450 million valuation. The sale raised $6.75 million to both continue supporting the protocol and support the Liquid Bitcoin Foundation, a governance entity that will oversee protocol development, partnerships, research, and grants.

Founded in 2024, Lombard previously raised $17 million in seed funding led by Polychain Capital, with participation from Franklin Templeton, Bybit, YZi Labs (previously Binance Labs), and others. Early support came from ICO platform Buidlpad, founded by Erick Zhang, who hosted the BARD sale.

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