Lombard Finance LBTC
Yield-bearing Bitcoin token on Solana with $1.5B backing
Lombard Finance has launched LBTC, a yield-bearing Bitcoin token deployed as an SPL token on Solana, offering approximately 1% APY through Bitcoin staking via Babylon Labs. The token is fully backed by BTC, secured by a decentralized validator network called the Security Consortium, and provides real-time proof of reserves. LBTC integrates seamlessly into Solana DeFi protocols including Drift, Jupiter, Kamino Finance, and Meteora.
Users stake Bitcoin to mint LBTC as an SPL token, which earns ~1% APY via Babylon Labs staking, and can be used across Solana DeFi protocols or bridged from Ethereum via LayerZero.
Institutional and retail crypto investors seeking yield on Bitcoin holdings
Background.
- Status
- launched
- Business model
- unknown
- Company
- Lombard Finance
- Launched
- Aug 2025
Similar projects.
Editorial take on the space this project sits in — momentum signals, adjacent moves, our call on whether the wedge is real. Get pinged when we publish a new read or when the landscape shifts.
Have a take on this space?
Tell us what you’d build differently, where you think the incumbents miss, or what we’ve gotten wrong about this project. Comments + reactions are coming soon.