HTX Ventures Invests in Lombard to Enhance Bitcoin Liquidity
HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has strategically invested in Lombard, a restaking protocol aiming to increase Bitcoin liquidity and ecosystem. Lombards restaking product is built on top of the Bitcoin staking protocol Babylon, allowing individuals to utilize Bitcoin to secure other proofofstake networks. The protocol aims to transform Bitcoin from a static store of value into a productive financial asset by issuing LBTC, a liquid and yieldbearing representation of BTC.
The funding from HTX Ventures will be used to further develop and integrate LBTC into major ecosystems and DeFi protocols, enabling Bitcoin lending, borrowing, and trading. Edward, Managing Partner at HTX Ventures, expressed excitement about the partnership and the potential to empower Bitcoin holders and revitalize the BTC ecosystem through liquid restaking.
Jacob Phillips, Cofounder of Lombard, highlighted the significance of the investment in developing LBTC as a new core primitive, unlocking new capital into the ecosystem and broadening liquidity and users in DeFi protocols and exchange platforms. Both parties share a common goal of accelerating the growth of LBTC and advancing onchain finance.
Apart from HTX Ventures, the investors in Lombard include a diverse team of DeFi natives, technology, and infrastructure partners working towards collectively onboarding Bitcoin into DeFi. The partnership aims to bring LBTC accessibility to all chains and DeFi protocols, supporting its expansion and adoption within the cryptocurrency ecosystem.
Article
