Lombard Finance Reveals BTC-DeFi Integration Toolkit, Bybit and Binance Already In
Bitcoin liquid staking platform Lombard Finance has announced the launch of its novel production-ready toolkit LBTC SDK. The product enables wallets, exchanges, mining pools, and decentralized finance (DeFi) platforms to integrate BTC staking and minting of LBTC, a yield-bearing token directly tied to BTC.
According to the press release shared with Cryptonews, the launch is a step in Bitcoin’s transition beyond a store of value. Now it’s turning into a more flexible asset that opens new DeFi opportunities. The team says that LBTC SDK enables partners to offer one-click Bitcoin staking. It allows partners to offer direct deployment of LBTC into DeFi yield strategies and increase user engagement and retention through built-in yield opportunities. Furthermore, it can create new revenue streams from staking activities.
At the same time, users can mint LBTC and automatically deposit it into Lombard’s DeFi Vault. The latter yields 3% APY at the time of writing. This means they can earn yield on Bitcoin while maintaining full liquidity and exposure to this coin. “The integration process is straightforward and requires minimal technical effort,” Lombard notes. Partners can implement the whole solution with just a few lines of code.
Lombard Finance co-founder Jacob Phillips argues that “Bitcoin is undergoing a transformation.” It was previously seen only as a store of value but is now increasingly being integrated into DeFi. Subsequently, it’s unlocking new earning opportunities for BTC holders. “With the LBTC SDK, we’re removing the complexity for both platforms and users, enabling seamless Bitcoin staking and DeFi participation directly within their preferred interfaces,” Phillips says.
Binance and Bybit Integrate LBTC SDK, Lombard to Add More
The announcement says that crypto exchanges Bybit and Binance have already integrated the LBTC SDK. The team plans additional implementations “across the ecosystem,” it says. Furthermore, the toolkit supports wallet integrations with xVerse, MetaMask, and Trust Wallet.
The announcement claims that the SDK integration creates “significant opportunities for platforms to activate” over 2.8 million BTC sitting on centralized exchanges. The LBTC SDK is available for integration. The team says it offers comprehensive documentation and support for implementation.
Meanwhile, Lombard is a developer of secure Bitcoin infrastructure. Its flagship product is LBTC, while its DeFi Vault has accumulated over $200 million in TVL. This shows strong demand for Bitcoin yield opportunities, the company says.
Furthermore, over the past few days, Lombard has announced several major developments. It has revealed its Bitcoin staking partners: Figment, Galaxy, Kiln, and P2P.org. Each has joined Lombard to run a Finality Provider for Bitcoin project Babylon’s layer-1 blockchain Genesis. Furthermore, as the BABY token accompanied the recent Babylon Genesis launch, Lombard’s Staking Yield Pool opened as well. LBTC holders can now claim BABY rewards. The pool will soon expand to BSN tokens from Osmosis, BOB, TAC, and others, the team says.
As for the upcoming developments, Lombard has announced the transition of Phase 1 stakes into Phase 2, and direct Bitcoin delegation across four Lombard Finality Providers. Additionally, Babylon staking will reopen at the end of April.