DeFi
HTX Ventures Invests in Lombard to Grow Bitcoin Retaking Ecosystem
SINGAPORE, July 8, 2024 /PRNewswire/ — To enhance Bitcoin liquidity and ecosystem, HTX Ventures, the global investment arm of cryptocurrency exchange HTX, announced a strategic investment in Lombard. Lombard is a re-staking protocol poised to catalyze the growth of the Web3 ecosystem by transforming Bitcoin from a static store of value into a productive financial asset.
Lombard is building its resttaking product on Bitcoin’s Babylon staking protocol, which allows individuals to use Bitcoin to secure other proof-of-stake networks. Lombard is increasing the liquidity of staked BTC by issuing LBTC, a liquid, yield-generating representation of BTC. LBTC can move seamlessly across chains and decentralized finance (DeFi) platforms as collateral without compromising security. LBTC will soon be integrated into popular DeFi protocols on the Ethereum mainnet before launching on widely used Layer 2 (L2) chains later this year.
“Liquid re-staking is the next revolution in the Bitcoin ecosystem, and Lombard is the project driving this transformation,” said Edward, Managing Partner at HTX Ventures. “Lombard is rapidly expanding to integrate the LBTC token into leading DeFi ecosystems and protocols. This will enable the lending, borrowing, and trading of Bitcoin, providing significant utility to Bitcoin holders and revitalizing the BTC ecosystem. HTX Ventures is incredibly excited to partner with Lombard to empower Bitcoin holders and the broader BTC ecosystem.”
“We are thrilled to have HTX Ventures invest in the development of LBTC as the new primitive core. LBTC will unlock a massive amount of net new capital into the ecosystem and bring new liquidity and users to DeFi protocols and exchanges. HTX Ventures shares Lombard’s mission to accelerate on-chain finance and we look forward to leveraging these synergies to accelerate LBTC’s growth,” said Jacob Phillips, Co-Founder of Lombard.
LBTC will soon be accessible to everyone and supported by all DeFi chains and protocols. Join the LBTC Waiting List for exclusive access to LBTC and rewards for early participation.
About Lombard
Named after London’s historic Lombard Street, a hub of financial activity since the Middle Ages, Lombard symbolises a place where all participants are connected to opportunity. By adopting the Lombard name, we are rebuilding its legacy on digital blocks, transforming it into a modern hub of innovation and connectivity.
Founded in April 2024, Lombard is dedicated to unlocking the potential of Bitcoin as a dynamic financial tool by connecting it to DeFi. We are a diverse team of DeFi natives, working with technology and infrastructure partners towards a shared, ecosystem-driven mission to collectively integrate Bitcoin into DeFi.
About HTX Ventures
HTX Ventures, the global investment arm of HTX, integrates investment, incubation, and research to identify the most talented and brightest teams from around the world. With a decade of history as an industry pioneer, HTX Ventures excels in identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive project support, including funding, resources, and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX Exchange. Additionally, as one of the most active fund-of-funds (FOF) investors, HTX Ventures is collaboratively shaping the blockchain ecosystem alongside leading global blockchain funds including Dragonfly, Bankless Ventures, Gitcoin, Figment, and Animoca. Visit us here.
Contact details
USA
[email protected]
Company Website
https://www.htx.com/fr-fr/ventures
SOURCE HTX