OKX Ventures announces investment in Lombard to drive innovation in the Bitcoin re-staking ecosystem.

ChainCatcher news, OKX Ventures announced an investment in Lombard, a Babylon-based solution that provides cross-chain liquid staking for Bitcoin.

Lombard's flagship product is LBTC. Lombard collaborates with Babylon, whose staking protocol allows Bitcoin assets to be staked in a trustless and self-custodial manner, providing economic security for Proof of Stake (PoS) systems. Through Babylon, staked Bitcoin assets are converted into LBTC, enabling integration into the most commonly used DeFi protocols on the Ethereum mainnet and future popular Layer 2 chains. LBTC moves seamlessly across chains and is used as collateral in decentralized finance, aiming to unlock over $1.3 trillion in Bitcoin for lending and trading. This initiative not only brings new capital opportunities for Bitcoin holders but also drives growth across various ecosystems and DeFi protocols, thereby enhancing the utility and liquidity of Bitcoin.