HTX Ventures Invests in Lombard to Boost Bitcoin Restaking Ecosystem

HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in Lombard to enhance the liquidity and the ecosystem for Bitcoin. Lombard is a restaking protocol aimed at transforming Bitcoin from a static store of value into a productive financial asset, thus catalyzing growth across the Web3 ecosystem.

Lombard's restaking product is built on top of the Bitcoin staking protocol Babylon, which allows individuals to use Bitcoin to secure other proof-of-stake networks. By issuing LBTC, a liquid and yield-bearing representation of BTC, Lombard increases liquidity for staked Bitcoin. LBTC can move seamlessly across chains and decentralized finance (DeFi) platforms as collateral without compromising security. The token will soon be integrated into the most popular DeFi protocols on the Ethereum Mainnet before launching on widely used Layer 2 (L2) chains later this year.

Edward, Managing Partner at HTX Ventures, emphasized the transformative potential of Lombard's approach: "Liquid restaking is the next revolution for the Bitcoin Ecosystem, and Lombard is the project driving this transformation. Lombard is rapidly expanding to onboard the LBTC token onto major ecosystems and DeFi protocols. This will enable Bitcoin to be lent, borrowed, and traded, unlocking tremendous utility for 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."

Jacob Phillips, Co-founder of Lombard, echoed this enthusiasm: "We are delighted to have HTX Ventures for investing in the development of LBTC as a new core primitive. LBTC will unlock a massive amount of net-new capital into the ecosystem and bring new liquidity and users to DeFi protocols and exchange platforms. HTX Ventures shares Lombard’s mission to accelerate on-chain finance and we look forward to building on these synergies to accelerate the growth of LBTC."

LBTC will soon be accessible and supported by all chains and DeFi protocols. Interested parties can join the LBTC Waitlist for exclusive access to LBTC and rewards for early participation.

HTX Ventures has a decade-long history as an industry pioneer, excelling at identifying cutting-edge technologies and emerging business models. They currently back over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. In addition, they collaborate with premier global blockchain funds, including Dragonfly, Bankless Ventures, Gitcoin, Figment, and Animoca, to foster growth within the blockchain ecosystem.

This strategic investment by HTX Ventures in Lombard signifies a pivotal step in unlocking Bitcoin's potential as a dynamic financial tool, thereby driving innovation and connectivity within the digital financial landscape.