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Lombard

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uuid0000a6v

Namestring
Lombard
Legal namestring
Lombard Finance Ltd
Websiteurl
lombard.finance
Company typeenum
Private
Founded yearint
2024
Descriptiontext

Lombard Finance is a multi-chain Bitcoin capital markets protocol founded in 2024 and headquartered operationally in Sydney, Australia, with the Liquid Bitcoin Foundation registered in the Cayman Islands (April 25, 2025) and the operating issuer entity Liquid Bitcoin Operations Inc. registered in Panama (May 20, 2025). The platform's core products are LBTC, a yield-bearing liquid staked Bitcoin token built on the Babylon protocol that earns native BTC yield from Bitcoin Secured Networks, and BTC.b, a non-yield 1:1 cross-chain Bitcoin asset acquired from Ava Labs in October 2025 for $400M+ that enables fast (2-hour) cross-chain transfers. The system runs on a Cosmos-based appchain (Lombard Ledger) using CometBFT consensus, secured by a 14-15 member Security Consortium (Galaxy, OKX, Kraken, DCG, Wintermute, Antpool, F2Pool, Chorus One, Figment, Kiln, P2P, Cubist, Amber Group, Nansen, Bitwise Onchain Solutions) requiring 10-of-15 supermajority consensus, with FIPS-140 HSM key management via Cubist's CubeSigner and a Bascule Drawbridge independent verification layer, plus Chainlink- and Redstone-powered Proof of Reserve updating every 10 minutes.

Lombard generates revenue from multiple streams: protocol-level redemption fees on LBTC and BTC.b (queryable on-chain via contract functions), a 0.0001 LBTC unstaking fee, partner revenue sharing on BTC deposit flows bound to Partner IDs, and quote-based institutional product fees. The product surface includes the Bitcoin Earn meta-vault (automated deployment across lending, liquidity provision, yield farming, and structured products), the Lombard DeFi Marketplace across 12+ blockchains, the TypeScript-based Lombard SDK and the Bitcoin Agent SDK (with LangChain, Vercel AI SDK, Coinbase AgentKit, and Claude Desktop/MCP adapters), and Bitcoin Smart Accounts (a custody-preserving rail using PSBTs and Taproot scripts to recognize custodied BTC as onchain collateral via BTC.b, with Morpho as initial liquidity partner and Bitwise as the flagship institutional partner). Go-to-market combines product-led growth (self-serve app, permissionless LBTC/BTC.b), enterprise field sales for Bitcoin Smart Accounts, an SDK/API-first distribution model, channel partner distribution through exchanges, wallets, and staking providers, and community-led incentives (Lux points, seasonal BARD airdrops).

The protocol has scaled to $1B TVL in 92 days, $3B+ in net-new Bitcoin liquidity onboarded to 15 blockchains, $750M in cumulative vault deposits, 270,000 LBTC users globally, and 500,000+ transactions with zero security incidents. Customers and partners span retail Bitcoin holders, institutional investors (Bitwise, Franklin Templeton, Galaxy, treasury/asset managers), DeFi protocols (Aave, Morpho, Uniswap, Curve, Pendle, EtherFi, Veda), exchanges (Binance, Bybit, OKX), wallets (Ledger, Xverse, Cool Wallet), staking providers (Galaxy, Kiln, Figment, P2P), and the AI-agent ecosystem. The BARD governance token (fixed supply of 1 billion) is being admitted to trading in the EU/EEA under MiCA with Ireland as home member state, while the U.S. and several sanctioned jurisdictions are restricted.

Short descriptiontext

Lombard Finance is a multi-chain Bitcoin capital markets protocol offering liquid staked Bitcoin (LBTC), cross-chain Bitcoin (BTC.b), custody-preserving institutional rails (Bitcoin Smart Accounts), and developer/AI-agent SDKs, serving 270,000+ retail and institutional users across 15 blockchains.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersSydney, Australia
HQ citystring
Sydney
HQ countrystring
Australia
HQ regionstring
Oceania
Markets served

Serves global market

Offices2 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
bitcoin liquid staking, cross-chain bitcoin, defi yield protocols, bitcoin smart accounts, developer bitcoin sdk
Industry5 codes
1Mint/Redeem, Issuance APIs & Treasury Operations Platforms
CodeFSADADAEPrimaryYes
2On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury)
CodeFSAGAMADPrimaryNo
3Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption)
CodeFSAPAEABPrimaryNo
4On/Off-Ramps & Fiat Liquidity Providers for Stablecoins
CodeFSADADAGPrimaryNo
5Market Making, Liquidity & Peg-Stabilization Services
CodeFSADADAJPrimaryNo
NAICS code6 codes
  • Securities, Commodity Contracts, and Other Financial Investments and Related Activities523
  • Other Financial Investment Activities5239
  • Funds, Trusts, and Other Financial Vehicles525
  • Other Financial Vehicles52599
  • Other Financial Vehicles525990
  • Securities and Commodity Contracts Intermediation and Brokerage5231
SIC code3 codes
  • Security Brokers, Dealers & Flotation Companies6211
  • Security & Commodity Brokers, Dealers, Exchanges & Services6200
  • Finance Services6199
Product category
Bitcoin DeFi Protocol
GTM motion6 records

Each record includes

Type, Description, Source

Revenue model5 records
1Redemption Fees
TypeTransaction Fee
Description

Protocol charges redeem fees on LBTC and BTC.b redemptions, plus separate 'to native' commissions for cross-chain redemptions back to native BTC. Fees are calculated on-chain and can be queried via smart contract functions (getRedeemFee, toNativeCommission).

docs.lombard.finance
2Finality Provider Commission
TypeTransaction Fee
Description

8% finality provider commission is deducted from staking rewards before they are passed through to LBTC holders via the exchange rate appreciation. Operated with Galaxy, Kiln, P2P, and Figment as Finality Providers.

docs.lombard.finance
3Partner Revenue Sharing
TypeAffiliate Referral
Description

Native BTC deposit flows (prepare_btc_to_lbtc_deposit, prepare_btc_to_btcb_deposit) generate BTC deposit addresses bound to a Partner ID. Production partners can be attributed and revenue-shared on these flows, providing a GTM incentive for integrators.

docs.lombard.finance
4Institutional Product Fees
TypeManaged Services
Description

Institutional-grade products including Bitcoin Smart Accounts and forthcoming basis trade vaults and tokenized options vaults built with leading institutions. Custom pricing for institutional clients accessing these services.

lombard.finance
5Minting and Bridging Fees
TypeTransaction Fee
Description

0% minting fee on BTC.b (acquired from Ava Labs); LBTC staking involves yield-based economics via the exchange rate. Cross-chain bridging of LBTC across 14+ chains generates protocol-level transaction value.

docs.lombard.finance
Marketing channels10 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels6 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Others
Pricing details6 tiers
1LBTC redeem fees: on-chain fee + to-native commission for BTC destinations
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

Fee calculation varies by destination: BTC destination = redeem fee + to native commission; BTC.b destination = redeem fee only. Contract address: 0x8236a87084f8b84306f72007f36f2618a5634494. Queryable via getRedeemFee() and toNativeCommission() functions.

docs.lombard.finance
2BTC.b redemption: redeem fee + to-native commission
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

Contract address: 0xB0F70C0bD6FD87dbEb7C10dC692a2a6106817072. Same fee structure as LBTC redemption when redeeming to native BTC. 0% minting fee on BTC.b.

docs.lombard.finance
3BTC.b minting
ModelOtherBilling cadencePay-as-you-go
Notes

0% minting fee on BTC.b; faster redemptions than LBTC (2-hour withdrawal period, no unbonding). Strict 1:1 BTC parity maintained at all times.

docs.lombard.finance
4LBTC staking yield (variable APY)
ModelOutcome Based/ PerformanceBilling cadencePay-as-you-go
Notes

Native BTC yield earned via Babylon protocol staking, paid by Bitcoin Secured Networks (BSNs) in their native tokens. 8% finality provider commission deducted before rewards. Yield accrues automatically through exchange rate appreciation (non-rebasing design).

docs.lombard.finance
5LBTC unstaking fee
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

0.0001 LBTC fee on unstaking. Up to 10-day unbonding period covering Babylon unbonding window plus Lombard daily rebalancing cycle. LBTC continues earning yield during unbonding period.

docs.lombard.finance
6Institutional products (Bitcoin Smart Accounts, basis trade vault, tokenized options vault)
ModelOtherBilling cadenceMulti-year contract
Notes

Quote-based pricing, not publicly disclosed. Includes Bitcoin Smart Accounts with Morpho enabling borrowing at 4-5% (versus 8-12% OTC lenders). Contact [email protected] for bespoke pilots. Public availability Q1 2026.

lombard.finance
GTM typeB2B and B2C
B2B and B2C
Offering typeSoftware
Software
Brand1 of 7 records shown
1LBTC
Description

Lombard's yield-bearing Bitcoin liquid staking token, built on the Babylon protocol.

lombard.finance
+6 more records
Core offering1 text field

Lombard Finance operates a multi-chain Bitcoin capital markets protocol that issues LBTC, a yield-bearing liquid staked Bitcoin token built on the Babylon protocol, and BTC.b, a 1:1 cross-chain Bitcoin asset. The platform enables retail and institutional users to stake native BTC, mint cross-chain Bitcoin, deploy capital into automated yield vaults, and access DeFi markets across 15+ blockchains, all secured by a 14-15 member Security Consortium with multi-party signing and on-chain Proof of Reserve.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 8 values shown
  • $1 billion TVL reached in 92 days (fastest yield-bearing token)
+7 more records
Product overview1 text field

Lombard Finance is a unified platform-plus-modules architecture for Bitcoin capital markets onchain, founded in 2024. The core product stack is built around the Lombard Ledger (a Cosmos-based appchain with CometBFT consensus) operated by the Security Consortium. The flagship products are LBTC (yield-bearing liquid staked Bitcoin via Babylon protocol) and BTC.b (non-yield 1:1 cross-chain Bitcoin asset acquired from Ava Labs in October 2025). These are complemented by Bitcoin Earn (an automated meta-vault for yield optimization), the Lombard DeFi Marketplace (lending/borrowing across 12 blockchains), and Bitcoin Smart Accounts (the institutional custody-to-DeFi rail with Morpho and Bitwise). The developer surface includes the Lombard SDK (Bitcoin Connect, TypeScript SDK for EVM/Solana/Sui/Starknet) and the Bitcoin Agent SDK (AI agent packages for LangChain, Vercel AI SDK, AgentKit, and Claude Desktop via MCP). The BARD token provides governance and is distributed via seasonal airdrops. All assets are secured by the 14-member Security Consortium with CubeSigner HSMs and Bascule Drawbridge independent verification, with real-time Proof of Reserve powered by Chainlink and Redstone oracles.

Product and service8 records
1LBTC
CategoryCore product (yield-bearing Bitcoin token)
Description

Lombard's flagship yield-bearing liquid staked Bitcoin (LST) token built on the Babylon protocol. Users stake BTC to receive LBTC, which is 1:1 backed by native BTC and earns a native yield paid by Bitcoin Secured Networks (BSNs) in their native tokens. LBTC uses a non-rebasing design where the exchange rate increases over time, allowing holders to earn yield while staying liquid for use in DeFi. The product is intended for retail Bitcoin holders, institutional investors, and DeFi users seeking yield on BTC.

2BTC.b
CategoryCore product (cross-chain Bitcoin asset)
Description

Non-yield Bitcoin token maintaining strict 1:1 parity with native BTC, enabling fast cross-chain Bitcoin transfers with 0% minting fee and a 2-hour withdrawal period. Originally launched by Ava Labs and acquired by Lombard in October 2025. Functions as the cryptographic receipt token for Bitcoin Smart Accounts. The product is intended for developers, exchanges, and institutions needing fast, low-cost cross-chain BTC transfers.

3Bitcoin Earn
CategoryVault product (automated yield)
Description

Automated yield vault product (meta-vault) that puts Bitcoin to work across a diversified portfolio of strategies through a single deposit. Accepts LBTC, BTC.b, WBTC, or native BTC and deploys capital across lending, concentrated liquidity provision, yield farming, and structured products. Rewards auto-compound into BTCe vault share tokens, and strategy execution, rebalancing, and yield optimization are handled automatically. The product is intended for Bitcoin holders seeking hands-off yield optimization.

4Bitcoin Smart Accounts (BSA)
CategoryInstitutional product
Description

The first rail between institutional custody and onchain finance. Recognizes custodial Bitcoin as collateral via a BTC.b receipt token without the underlying Bitcoin ever leaving custody. Uses Partially Signed Bitcoin Transactions (PSBTs), Taproot scripts, and time locks to form emulated covenants, and a Trusted Execution Environment-based arbitration system. Initial liquidity partner is Morpho, with Bitwise Asset Management partnership announced for institutional rollout. The product is intended for institutional investors, asset managers, corporate treasuries, and family offices.

5Lombard SDK (Bitcoin Connect)
CategoryDeveloper SDK
Description

First-ever Bitcoin Infrastructure SDK providing a complete, deployment-ready TypeScript toolkit to embed native BTC deposits and yield directly into any chain, protocol, or wallet. Part of Bitcoin Connect, the developer platform to build Bitcoin products on any chain. Supports EVM, Solana, Sui, and Starknet. Active partners include Binance, Bybit, Ledger, Xverse, Cool Wallet, and Figment. The product is intended for developers, exchanges, wallets, DeFi protocols, and AI agent builders.

6Bitcoin Agent SDK
CategoryAI agent SDK
Description

SDK for AI agents that enables autonomous AI agents to hold, stake, earn yield on, and borrow against Bitcoin on behalf of users without touching user keys. Distributed as two packages: @lombard.finance/sdk-agent (framework-agnostic tools with Vercel AI SDK and LangChain adapters) and @lombard.finance/sdk-agentkit (Coinbase AgentKit ActionProvider). Compatible with Claude Desktop via MCP. The product is intended for AI agent developers, fintech app builders, and protocol teams integrating Bitcoin capabilities into agentic workflows.

7Bitcoin Staking (Babylon Finality Providers)
CategoryCore staking service
Description

Native BTC staking service operated by Lombard's 4 Finality Providers (Galaxy, Kiln, P2P, and Figment) on the Babylon protocol. The service enables users to stake BTC to secure Proof-of-Stake networks (Bitcoin Secured Networks) and earn rewards, which flow through to LBTC holders via exchange rate appreciation. The product is intended for Bitcoin holders seeking native staking yield and the underlying infrastructure that powers LBTC's yield.

8BARD Token
CategoryGovernance token
Description

Governance and utility token with a fixed supply of 1 billion. Used for governance voting, staking, and participation in the Liquid Bitcoin Foundation. Distributed through seasonal airdrops to Lux rewards holders, with Season 1 allocating 4% and Season 2 allocating 1.5% of total supply. Token holders can vote on protocol parameters, upgrades, and Security Consortium composition. The product is intended for active LBTC and BTC.b users participating in Lombard governance.

Scale indicator17 records

Each record includes

Type, Value, Description, Source

Partnership37 partners
Strategic tierMajor Consortium Member And Exchange PartnerTypeChannel Partner/ Reseller/ DistributorAnnounced on2026-05-14
Description

Kraken is both a Security Consortium member and a major exchange that confirmed on May 14, 2026 that it would switch to Chainlink CCIP for cross-chain transfers alongside Solv Protocol and Lombard.

Strategic tierMid-Tier Ecosystem PartnerTypeTechnology or IntegrationAnnounced on2026-05-14
Description

Solv Protocol confirmed migration to Chainlink CCIP alongside Lombard and Kraken in May 2026 for cross-chain security enhancements following the LayerZero/Kelp DAO exploit.

Strategic tierFlagship Institutional PartnerTypeStrategic or Co-development PartnerAnnounced on2026-03-24
Description

Partnership announced at the Digital Asset Summit in New York (March 24, 2026) to enable institutions to earn yield and borrow against Bitcoin without transferring assets out of custody. Targets unlocking hundreds of billions in institutional Bitcoin holdings. Leverages Lombard's Bitcoin Smart Accounts framework. Targeted for rollout in Q2 2026 (mid-2026).

Strategic tierMid-Tier Ecosystem PartnerTypeTechnology or IntegrationAnnounced on2026-02-09
Description

Lombard is integrated into MegaETH's mainnet ecosystem alongside GMX, Aave, Chainlink, and Lido. MegaETH launched its mainnet on February 9, 2026, targeting 100,000 transactions per second with millisecond block times.

Strategic tierMajor Acquisition PartnerTypeOEM/ Whitelabel/ Licensing PartnerAnnounced on2025-10-30
Description

First-of-its-kind deal in which Lombard acquired BTC.b (and the canonical BTC asset across new chains and protocols) from Ava Labs. BTC.b is now integrated into Lombard's infrastructure, secured by the same 14-member Security Consortium as LBTC. Deal valued at $400M+.

Strategic tierMajor Vertical-Specific PartnerTypeStrategic or Co-development PartnerAnnounced on2025-10-16
Description

Strategic partnership to develop Bitcoin-backed financial products for the creator economy, focused on intellectual property monetization and security. Introduces Bitcoin revenue distribution and crypto-economic guarantees for IP assets, with significant implications for the Korean market.

7Babylon Protocol
Strategic tierFlagship Foundational PartnerTypeStrategic or Co-development PartnerAnnounced on2024-01-01
Description

Babylon Protocol is the foundational staking protocol that Lombard is built upon. Babylon uses native BTC to secure proof-of-stake (PoS) networks (Bitcoin Secured Networks, or BSNs). LBTC holders receive yield from BSNs paying for Bitcoin economic security. This is the core infrastructure enabling Lombard's yield-bearing LBTC product.

docs.lombard.finance
Strategic tierFlagship Infrastructure PartnerTypeTechnology or Integration
Description

Chainlink provides oracle infrastructure for Lombard including Proof of Reserve feeds and secondary verification of every bridge transaction. In May 2026, Lombard migrated over $1B in BTC assets from LayerZero to Chainlink CCIP after the Kelp DAO exploit, alongside Kraken and Solv Protocol.

Strategic tierFlagship Lending PartnerTypeTechnology or Integration
Description

Initial liquidity partner for Lombard's Bitcoin Smart Accounts. Morpho enables institutions to use custodied BTC as collateral to borrow stablecoins at 4-5% rates, versus 8-12% via OTC lenders.

Strategic tierMajor Defi Integration PartnerTypeTechnology or Integration
Description

Aave is integrated with LBTC as a major DeFi lending venue. Aave V4 launched March 30, 2026 on Ethereum mainnet with hub-and-spoke architecture, supporting LBTC as collateral.

Strategic tierFlagship Exchange Distribution PartnerTypeChannel Partner/ Reseller/ Distributor
Description

Migrated exchange users with seamless BTC staking at wallet launch via Lombard SDK. Binance listed and integrated LBTC and BTC.b into its exchange product suite.

Strategic tierMajor Exchange Distribution PartnerTypeChannel Partner/ Reseller/ Distributor
Description

Built sticky BTC deposits with integrated staking and vaults via Lombard SDK. Bybit integrated LBTC for users.

13OKX
Strategic tierMajor Consortium Member And Exchange PartnerTypeChannel Partner/ Reseller/ Distributor
Description

OKX is both a Security Consortium member (providing cryptographic validation) and an exchange distribution partner for LBTC and BTC.b.

14Security Consortium (Galaxy, Kraken, DCG, Wintermute, Amber Group, Antpool, F2Pool, Chorus One, Figment, Kiln, P2P.org, Bitwise Onchain Solutions, Cubist, Nansen)
Strategic tierFlagship Infrastructure ConsortiumTypeStrategic or Co-development Partner
Description

14-15 member Security Consortium collectively validates every mint, redemption, and cross-chain transfer for Lombard. Requires 10-of-15 supermajority consensus. Each member operates independently within FIPS-140 certified HSMs (CubeSigner). Even 9 compromised members cannot authorize a transaction.

lombard.finance
Strategic tierMid-Tier Defi IntegrationTypeTechnology or Integration
Description

EtherFi is integrated as a partner in Lombard's ecosystem, visible on the homepage partner logo section as a DeFi protocol integration.

Strategic tierMajor Institutional PartnerTypeTechnology or Integration
Description

Franklin Templeton is featured as a partner on Lombard's homepage. As an institutional asset manager, Franklin represents traditional finance integration with the Lombard Bitcoin capital markets infrastructure.

Strategic tierFlagship Hardware Wallet PartnerTypeChannel Partner/ Reseller/ Distributor
Description

Unlocked institutional-grade Bitcoin yield for 22% of global BTC through Lombard SDK integration in Ledger hardware wallets.

Strategic tierMid-Tier Wallet PartnerTypeChannel Partner/ Reseller/ Distributor
Description

Delivered BTC yield without compromising self-custody via Lombard SDK integration. Xverse is a Bitcoin-focused wallet integrated with Lombard infrastructure.

Strategic tierMid-Tier Wallet PartnerTypeChannel Partner/ Reseller/ Distributor
Description

Captured BTC users with secure, in-wallet yield via Lombard SDK integration. Cool Wallet is a hardware wallet provider integrated with Lombard.

Strategic tierMajor Market Maker And Consortium MemberTypeTechnology or Integration
Description

Wintermute serves as both a Security Consortium member providing cryptographic validation and a market maker in Lombard's DeFi ecosystem.

Strategic tierMid-Tier Infrastructure PartnerTypeTechnology or Integration
Description

Veda is a vault infrastructure partner using Lombard to expand secure, scalable vault infrastructure into new ecosystems. Quote from Stephanie Vaughan, Co-founder and COO of Veda: 'Lombard has quickly established itself as a blue-chip team.'

Strategic tierMajor Oracle PartnerTypeTechnology or Integration
Description

Redstone provides Proof of Reserve oracle feeds for Lombard's LBTC and BTC.b assets, with verified reserves ratio updated in real-time.

Strategic tierCore Security PartnerTypeTechnology or Integration
Description

Immunefi hosts Lombard's $250,000 bug bounty program as the official disclosure channel for security vulnerability reports.

Strategic tierFlagship Infrastructure PartnerTypeTechnology or Integration
Description

Cubist is both a Security Consortium member and the provider of CubeSigner (key management in FIPS-140 HSMs) and Bascule Drawbridge (independent verification layer). Cubist is core to Lombard's security architecture.

Strategic tierCore Security PartnerTypeImplementation/ SI/ Consulting Partner
Description

OpenZeppelin has audited Lombard's smart contracts and architecture as part of the 10+ independent audit program.

Strategic tierCore Security PartnerTypeImplementation/ SI/ Consulting Partner
Description

Sherlock has audited Lombard's smart contracts as part of the multi-firm security audit program.

Strategic tierCore Security PartnerTypeImplementation/ SI/ Consulting Partner
Description

Veridise has audited Lombard's smart contracts as part of the comprehensive audit program.

Strategic tierCore Security PartnerTypeImplementation/ SI/ Consulting Partner
Description

Halborn has audited Lombard's smart contracts as part of the multi-firm security audit program.

Strategic tierMid-Tier Security PartnerTypeImplementation/ SI/ Consulting Partner
Description

Cantina is listed as a Lombard security audit partner.

Strategic tierMid-Tier Security PartnerTypeImplementation/ SI/ Consulting Partner
Description

Spearbit is listed as a Lombard security audit partner.

Strategic tierMid-Tier Security PartnerTypeImplementation/ SI/ Consulting Partner
Description

Security partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.

Strategic tierMid-Tier Security PartnerTypeTechnology or Integration
Description

Security and compliance infrastructure partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.

Strategic tierMid-Tier Security PartnerTypeTechnology or Integration
Description

Security partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project. Hexagate provides real-time anomaly detection for protocol monitoring.

34Distributed Data Labs
Strategic tierMid-Tier Infrastructure PartnerTypeTechnology or Integration
Description

Infrastructure partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.

lombard.finance
Strategic tierMid-Tier Infrastructure PartnerTypeTechnology or Integration
Description

Infrastructure partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.

Strategic tierMid-Tier Legal PartnerTypeImplementation/ SI/ Consulting Partner
Description

Legal partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.

Strategic tierMid-Tier Marketing/Distribution PartnerTypeGTM or Marketing Partner
Description

Kaito distributes BARD airdrop rewards to Kaito Yappers directly at kaito.ai/airdrops, not through the Lombard claim portal. Distribution partner for Lombard's airdrop program.

Recent move6 records

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Date, Type, Title, Description, Source

Expansion highlight7 records

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Type, Description

Peers10 records
TypeDirect peer
Description

Largest liquid staking protocol (stETH). Closely comparable to Lombard as a liquid staking primitive generating yield on a base asset, with similar cross-chain DeFi distribution mechanics and LST-as-collateral use cases across Aave and other money markets.

TypeDirect peer
Description

Decentralized Ethereum liquid staking protocol (rETH). Directly comparable to Lombard's LBTC in that it issues a yield-bearing liquid staking token backed 1:1 by a base asset and designed to be used across DeFi, although the base asset here is ETH rather than BTC.

TypeDirect peer
Description

WBTC is the dominant wrapped Bitcoin product, custodied by BitGo. The most direct competitor to BTC.b and LBTC, with similar 1:1 BTC backing and DeFi distribution; differentiated by single-custodian architecture versus Lombard's distributed Security Consortium.

TypeBroad incumbent
Description

Coinbase-issued wrapped Bitcoin (cbBTC) is a newer single-custodian competitor to BTC.b. Comparable as a cross-chain Bitcoin asset with deep DeFi integration, but with the regulatory and balance-sheet advantages of Coinbase as a public, US-regulated exchange.

5Babylon Protocol
TypeDirect peer
Description

Foundational Bitcoin staking protocol that Lombard is built upon. Closely comparable as the source of LBTC's yield via Bitcoin Secured Networks; effectively a partner but also a peer in the Bitcoin staking and restaking category.

TypeDirect peer
Description

Ethereum restaking protocol enabling ETH and LSTs to secure additional services. Conceptually adjacent to Lombard/Babylon's BTC-secured networks model; both sit in the 'restaking' or 'rehypothecation of base asset economic security' category.

TypeEmerging player
Description

Bitcoin yield and liquid staking protocol with similar cross-chain BTC product offerings. Comparable as an emerging player in the Bitcoin DeFi space that also migrated to Chainlink CCIP following the Kelp DAO exploit; partial overlap with Lombard's LBTC and BTC.b distribution.

TypeDirect peer
Description

Liquid staking protocol on Solana (mSOL). Directly comparable to Lombard as a liquid staking primitive with native yield, validator delegation, and DeFi marketplace integrations, although operating on Solana rather than as a Bitcoin-focused protocol.

TypeEmerging player
Description

Multi-chain liquid staking and node infrastructure provider offering yield-bearing staked assets across chains. Comparable to Lombard in the liquid staking plus DeFi distribution category, with an SDK/API-first developer approach similar to Lombard's Bitcoin Connect SDK.

TypeOthers
Description

Critical infrastructure partner providing Proof of Reserve oracles and Chainlink CCIP for cross-chain messaging. Not a direct competitor but a foundational ecosystem dependency for Lombard's security and cross-chain architecture.

Market position
Strengths5 records

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Headline, Details, Source

Weaknesses5 records

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Competitive moat6 records

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Type, Details

Key risks6 records

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Key highlights7 records

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Named customers10 records

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Name, Industry, Type, Use case, Source, UUID

Segment7 records

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Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile4 records

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Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
Yes

Docs URL, Description

Integration16 records

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Title, Type, Description, Source

AI capability9 records

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Type, Description, Source

AI maturity
App detail

Has app

Feature10 records

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Core technology
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Profiles7 records

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Subsidiaries1 record

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Compliance7 records

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Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds1 record

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Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors15 records

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Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

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Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

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Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Lombard

Bitcoin DeFi Protocollombard.finance

Lombard Finance is a multi-chain Bitcoin capital markets protocol offering liquid staked Bitcoin (LBTC), cross-chain Bitcoin (BTC.b), custody-preserving institutional rails (Bitcoin Smart Accounts), and developer/AI-agent SDKs, serving 270,000+ retail and institutional users across 15 blockchains.

What Lombard does

Lombard Finance is a multi-chain Bitcoin capital markets protocol founded in 2024 and headquartered operationally in Sydney, Australia, with the Liquid Bitcoin Foundation registered in the Cayman Islands (April 25, 2025) and the operating issuer entity Liquid Bitcoin Operations Inc. registered in Panama (May 20, 2025). The platform's core products are LBTC, a yield-bearing liquid staked Bitcoin token built on the Babylon protocol that earns native BTC yield from Bitcoin Secured Networks, and BTC.b, a non-yield 1:1 cross-chain Bitcoin asset acquired from Ava Labs in October 2025 for $400M+ that enables fast (2-hour) cross-chain transfers. The system runs on a Cosmos-based appchain (Lombard Ledger) using CometBFT consensus, secured by a 14-15 member Security Consortium (Galaxy, OKX, Kraken, DCG, Wintermute, Antpool, F2Pool, Chorus One, Figment, Kiln, P2P, Cubist, Amber Group, Nansen, Bitwise Onchain Solutions) requiring 10-of-15 supermajority consensus, with FIPS-140 HSM key management via Cubist's CubeSigner and a Bascule Drawbridge independent verification layer, plus Chainlink- and Redstone-powered Proof of Reserve updating every 10 minutes.

Lombard generates revenue from multiple streams: protocol-level redemption fees on LBTC and BTC.b (queryable on-chain via contract functions), a 0.0001 LBTC unstaking fee, partner revenue sharing on BTC deposit flows bound to Partner IDs, and quote-based institutional product fees. The product surface includes the Bitcoin Earn meta-vault (automated deployment across lending, liquidity provision, yield farming, and structured products), the Lombard DeFi Marketplace across 12+ blockchains, the TypeScript-based Lombard SDK and the Bitcoin Agent SDK (with LangChain, Vercel AI SDK, Coinbase AgentKit, and Claude Desktop/MCP adapters), and Bitcoin Smart Accounts (a custody-preserving rail using PSBTs and Taproot scripts to recognize custodied BTC as onchain collateral via BTC.b, with Morpho as initial liquidity partner and Bitwise as the flagship institutional partner). Go-to-market combines product-led growth (self-serve app, permissionless LBTC/BTC.b), enterprise field sales for Bitcoin Smart Accounts, an SDK/API-first distribution model, channel partner distribution through exchanges, wallets, and staking providers, and community-led incentives (Lux points, seasonal BARD airdrops).

The protocol has scaled to $1B TVL in 92 days, $3B+ in net-new Bitcoin liquidity onboarded to 15 blockchains, $750M in cumulative vault deposits, 270,000 LBTC users globally, and 500,000+ transactions with zero security incidents. Customers and partners span retail Bitcoin holders, institutional investors (Bitwise, Franklin Templeton, Galaxy, treasury/asset managers), DeFi protocols (Aave, Morpho, Uniswap, Curve, Pendle, EtherFi, Veda), exchanges (Binance, Bybit, OKX), wallets (Ledger, Xverse, Cool Wallet), staking providers (Galaxy, Kiln, Figment, P2P), and the AI-agent ecosystem. The BARD governance token (fixed supply of 1 billion) is being admitted to trading in the EU/EEA under MiCA with Ireland as home member state, while the U.S. and several sanctioned jurisdictions are restricted.

Lombard firmographics

Firmographics
Name
Lombard
Legal name
Lombard Finance Ltd
Website
https://lombard.finance
Company type
Private
Founded year
2024
Operating status
Operating
Headcount range
11–50 employees
Short description
Lombard Finance is a multi-chain Bitcoin capital markets protocol offering liquid staked Bitcoin (LBTC), cross-chain Bitcoin (BTC.b), custody-preserving institutional rails (Bitcoin Smart Accounts), and developer/AI-agent SDKs, serving 270,000+ retail and institutional users across 15 blockchains.
Ownership category
akta.pro rank

Lombard industry classification

Industry
Product category
Bitcoin DeFi Protocol
NAICS
Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599), Other Financial Vehicles (525990), Securities and Commodity Contracts Intermediation and Brokerage (5231)
SIC
Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
akta.pro primary industry
Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE)
akta.pro secondary industries
On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB), On/Off-Ramps & Fiat Liquidity Providers for Stablecoins (FSADADAG), Market Making, Liquidity & Peg-Stabilization Services (FSADADAJ)

Keywords

  • Bitcoin liquid staking
  • Cross-chain bitcoin
  • Defi yield protocols
  • Bitcoin smart accounts
  • Developer bitcoin sdk

Where Lombard is headquartered

Location

Headquarters

HQ city
Sydney
HQ country
Australia
HQ region
Oceania

Offices2 records

Markets served

Lombard business model

Business model
GTM type
B2B and B2C
Offering type
Software
Cost components
Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Others

Revenue model

  1. Redemption Fees: Protocol charges redeem fees on LBTC and BTC.b redemptions, plus separate 'to native' commissions for cross-chain redemptions back to native BTC. Fees are calculated on-chain and can be queried via smart contract functions (getRedeemFee, toNativeCommission).
  2. Finality Provider Commission: 8% finality provider commission is deducted from staking rewards before they are passed through to LBTC holders via the exchange rate appreciation. Operated with Galaxy, Kiln, P2P, and Figment as Finality Providers.
  3. Partner Revenue Sharing: Native BTC deposit flows (prepare_btc_to_lbtc_deposit, prepare_btc_to_btcb_deposit) generate BTC deposit addresses bound to a Partner ID. Production partners can be attributed and revenue-shared on these flows, providing a GTM incentive for integrators.
  4. Institutional Product Fees: Institutional-grade products including Bitcoin Smart Accounts and forthcoming basis trade vaults and tokenized options vaults built with leading institutions. Custom pricing for institutional clients accessing these services.
  5. Minting and Bridging Fees: 0% minting fee on BTC.b (acquired from Ava Labs); LBTC staking involves yield-based economics via the exchange rate. Cross-chain bridging of LBTC across 14+ chains generates protocol-level transaction value.

Pricing tiers

ModelBillingPrice
Transaction based/ take ratePay-as-you-goLBTC redeem fees: on-chain fee + to-native commission for BTC destinations
Transaction based/ take ratePay-as-you-goBTC.b redemption: redeem fee + to-native commission
OtherPay-as-you-goBTC.b minting
Outcome Based/ PerformancePay-as-you-goLBTC staking yield (variable APY)
Transaction based/ take ratePay-as-you-goLBTC unstaking fee
OtherMulti-year contractInstitutional products (Bitcoin Smart Accounts, basis trade vault, tokenized options vault)

Go-to-market motion6 records

Distribution channels6 records

Marketing channels10 records

Lombard product offering

Product offering

Core offering

Lombard Finance operates a multi-chain Bitcoin capital markets protocol that issues LBTC, a yield-bearing liquid staked Bitcoin token built on the Babylon protocol, and BTC.b, a 1:1 cross-chain Bitcoin asset. The platform enables retail and institutional users to stake native BTC, mint cross-chain Bitcoin, deploy capital into automated yield vaults, and access DeFi markets across 15+ blockchains, all secured by a 14-15 member Security Consortium with multi-party signing and on-chain Proof of Reserve.

Product overview

Lombard Finance is a unified platform-plus-modules architecture for Bitcoin capital markets onchain, founded in 2024. The core product stack is built around the Lombard Ledger (a Cosmos-based appchain with CometBFT consensus) operated by the Security Consortium. The flagship products are LBTC (yield-bearing liquid staked Bitcoin via Babylon protocol) and BTC.b (non-yield 1:1 cross-chain Bitcoin asset acquired from Ava Labs in October 2025). These are complemented by Bitcoin Earn (an automated meta-vault for yield optimization), the Lombard DeFi Marketplace (lending/borrowing across 12 blockchains), and Bitcoin Smart Accounts (the institutional custody-to-DeFi rail with Morpho and Bitwise). The developer surface includes the Lombard SDK (Bitcoin Connect, TypeScript SDK for EVM/Solana/Sui/Starknet) and the Bitcoin Agent SDK (AI agent packages for LangChain, Vercel AI SDK, AgentKit, and Claude Desktop via MCP). The BARD token provides governance and is distributed via seasonal airdrops. All assets are secured by the 14-member Security Consortium with CubeSigner HSMs and Bascule Drawbridge independent verification, with real-time Proof of Reserve powered by Chainlink and Redstone oracles.

Differentiator

Problem solved

Functional benefit

Brands

  • LBTC: Lombard's yield-bearing Bitcoin liquid staking token, built on the Babylon protocol.
  • BTC.b
  • Bitcoin Earn
  • Bitcoin Smart Accounts (BSA)
  • BARD
  • Lombard SDK
  • Lombard Ledger

Products and services

  • LBTC Lombard's flagship yield-bearing liquid staked Bitcoin (LST) token built on the Babylon protocol. Users stake BTC to receive LBTC, which is 1:1 backed by native BTC and earns a native yield paid by Bitcoin Secured Networks (BSNs) in their native tokens. LBTC uses a non-rebasing design where the exchange rate increases over time, allowing holders to earn yield while staying liquid for use in DeFi. The product is intended for retail Bitcoin holders, institutional investors, and DeFi users seeking yield on BTC.
  • BTC.b Non-yield Bitcoin token maintaining strict 1:1 parity with native BTC, enabling fast cross-chain Bitcoin transfers with 0% minting fee and a 2-hour withdrawal period. Originally launched by Ava Labs and acquired by Lombard in October 2025. Functions as the cryptographic receipt token for Bitcoin Smart Accounts. The product is intended for developers, exchanges, and institutions needing fast, low-cost cross-chain BTC transfers.
  • Bitcoin Earn Automated yield vault product (meta-vault) that puts Bitcoin to work across a diversified portfolio of strategies through a single deposit. Accepts LBTC, BTC.b, WBTC, or native BTC and deploys capital across lending, concentrated liquidity provision, yield farming, and structured products. Rewards auto-compound into BTCe vault share tokens, and strategy execution, rebalancing, and yield optimization are handled automatically. The product is intended for Bitcoin holders seeking hands-off yield optimization.
  • Bitcoin Smart Accounts (BSA) The first rail between institutional custody and onchain finance. Recognizes custodial Bitcoin as collateral via a BTC.b receipt token without the underlying Bitcoin ever leaving custody. Uses Partially Signed Bitcoin Transactions (PSBTs), Taproot scripts, and time locks to form emulated covenants, and a Trusted Execution Environment-based arbitration system. Initial liquidity partner is Morpho, with Bitwise Asset Management partnership announced for institutional rollout. The product is intended for institutional investors, asset managers, corporate treasuries, and family offices.
  • Lombard SDK (Bitcoin Connect) First-ever Bitcoin Infrastructure SDK providing a complete, deployment-ready TypeScript toolkit to embed native BTC deposits and yield directly into any chain, protocol, or wallet. Part of Bitcoin Connect, the developer platform to build Bitcoin products on any chain. Supports EVM, Solana, Sui, and Starknet. Active partners include Binance, Bybit, Ledger, Xverse, Cool Wallet, and Figment. The product is intended for developers, exchanges, wallets, DeFi protocols, and AI agent builders.
  • Bitcoin Agent SDK SDK for AI agents that enables autonomous AI agents to hold, stake, earn yield on, and borrow against Bitcoin on behalf of users without touching user keys. Distributed as two packages: @lombard.finance/sdk-agent (framework-agnostic tools with Vercel AI SDK and LangChain adapters) and @lombard.finance/sdk-agentkit (Coinbase AgentKit ActionProvider). Compatible with Claude Desktop via MCP. The product is intended for AI agent developers, fintech app builders, and protocol teams integrating Bitcoin capabilities into agentic workflows.
  • Bitcoin Staking (Babylon Finality Providers) Native BTC staking service operated by Lombard's 4 Finality Providers (Galaxy, Kiln, P2P, and Figment) on the Babylon protocol. The service enables users to stake BTC to secure Proof-of-Stake networks (Bitcoin Secured Networks) and earn rewards, which flow through to LBTC holders via exchange rate appreciation. The product is intended for Bitcoin holders seeking native staking yield and the underlying infrastructure that powers LBTC's yield.
  • BARD Token Governance and utility token with a fixed supply of 1 billion. Used for governance voting, staking, and participation in the Liquid Bitcoin Foundation. Distributed through seasonal airdrops to Lux rewards holders, with Season 1 allocating 4% and Season 2 allocating 1.5% of total supply. Token holders can vote on protocol parameters, upgrades, and Security Consortium composition. The product is intended for active LBTC and BTC.b users participating in Lombard governance.

Quantifiable outcome

  • $1 billion TVL reached in 92 days (fastest yield-bearing token)
  • +7 more outcomes

Companies that use Lombard

Customer profile

Named customers10 records

Segments7 records

Ideal customer profiles4 records

Lombard technology and API

Technology

Technology focussed Yes

API detail

Has API
Yes
API docs
API detail

Core technology

AI maturity

App detail

Integration16 records

AI capability9 records

Feature10 records

Lombard partnerships and signals

Strategic signal

Partnerships

37 partnerships are on record, tiered major consortium member and exchange partner, mid-tier ecosystem partner, flagship institutional partner, major acquisition partner, major vertical-specific partner, flagship foundational partner, flagship infrastructure partner, flagship lending partner, major defi integration partner, flagship exchange distribution partner, major exchange distribution partner, flagship infrastructure consortium, mid-tier defi integration, major institutional partner, flagship hardware wallet partner, mid-tier wallet partner, major market maker and consortium member, mid-tier infrastructure partner, major oracle partner, core security partner, mid-tier security partner, mid-tier legal partner and mid-tier marketing/distribution partner.

  • Krakenmajor consortium member and exchange partnerChannel Partner/ Reseller/ Distributor · 14 May 2026Kraken is both a Security Consortium member and a major exchange that confirmed on May 14, 2026 that it would switch to Chainlink CCIP for cross-chain transfers alongside Solv Protocol and Lombard.
  • Solv Protocolmid-tier ecosystem partnerTechnology or Integration · 14 May 2026Solv Protocol confirmed migration to Chainlink CCIP alongside Lombard and Kraken in May 2026 for cross-chain security enhancements following the LayerZero/Kelp DAO exploit.
  • Bitwise Asset Managementflagship institutional partnerStrategic or Co-development Partner · 24 March 2026Partnership announced at the Digital Asset Summit in New York (March 24, 2026) to enable institutions to earn yield and borrow against Bitcoin without transferring assets out of custody. Targets unlocking hundreds of billions in institutional Bitcoin holdings. Leverages Lombard's Bitcoin Smart Accounts framework. Targeted for rollout in Q2 2026 (mid-2026).
  • MegaETHmid-tier ecosystem partnerTechnology or Integration · 9 February 2026Lombard is integrated into MegaETH's mainnet ecosystem alongside GMX, Aave, Chainlink, and Lido. MegaETH launched its mainnet on February 9, 2026, targeting 100,000 transactions per second with millisecond block times.
  • Ava Labsmajor acquisition partnerOEM/ Whitelabel/ Licensing Partner · 30 October 2025First-of-its-kind deal in which Lombard acquired BTC.b (and the canonical BTC asset across new chains and protocols) from Ava Labs. BTC.b is now integrated into Lombard's infrastructure, secured by the same 14-member Security Consortium as LBTC. Deal valued at $400M+.
  • Storymajor vertical-specific partnerStrategic or Co-development Partner · 16 October 2025Strategic partnership to develop Bitcoin-backed financial products for the creator economy, focused on intellectual property monetization and security. Introduces Bitcoin revenue distribution and crypto-economic guarantees for IP assets, with significant implications for the Korean market.
  • Babylon Protocolflagship foundational partnerStrategic or Co-development Partner · 1 January 2024Babylon Protocol is the foundational staking protocol that Lombard is built upon. Babylon uses native BTC to secure proof-of-stake (PoS) networks (Bitcoin Secured Networks, or BSNs). LBTC holders receive yield from BSNs paying for Bitcoin economic security. This is the core infrastructure enabling Lombard's yield-bearing LBTC product.
  • Chainlinkflagship infrastructure partnerTechnology or IntegrationChainlink provides oracle infrastructure for Lombard including Proof of Reserve feeds and secondary verification of every bridge transaction. In May 2026, Lombard migrated over $1B in BTC assets from LayerZero to Chainlink CCIP after the Kelp DAO exploit, alongside Kraken and Solv Protocol.
  • Morphoflagship lending partnerTechnology or IntegrationInitial liquidity partner for Lombard's Bitcoin Smart Accounts. Morpho enables institutions to use custodied BTC as collateral to borrow stablecoins at 4-5% rates, versus 8-12% via OTC lenders.
  • Aavemajor defi integration partnerTechnology or IntegrationAave is integrated with LBTC as a major DeFi lending venue. Aave V4 launched March 30, 2026 on Ethereum mainnet with hub-and-spoke architecture, supporting LBTC as collateral.
  • Binanceflagship exchange distribution partnerChannel Partner/ Reseller/ DistributorMigrated exchange users with seamless BTC staking at wallet launch via Lombard SDK. Binance listed and integrated LBTC and BTC.b into its exchange product suite.
  • Bybitmajor exchange distribution partnerChannel Partner/ Reseller/ DistributorBuilt sticky BTC deposits with integrated staking and vaults via Lombard SDK. Bybit integrated LBTC for users.
  • OKXmajor consortium member and exchange partnerChannel Partner/ Reseller/ DistributorOKX is both a Security Consortium member (providing cryptographic validation) and an exchange distribution partner for LBTC and BTC.b.
  • Security Consortium (Galaxy, Kraken, DCG, Wintermute, Amber Group, Antpool, F2Pool, Chorus One, Figment, Kiln, P2P.org, Bitwise Onchain Solutions, Cubist, Nansen)flagship infrastructure consortiumStrategic or Co-development Partner14-15 member Security Consortium collectively validates every mint, redemption, and cross-chain transfer for Lombard. Requires 10-of-15 supermajority consensus. Each member operates independently within FIPS-140 certified HSMs (CubeSigner). Even 9 compromised members cannot authorize a transaction.
  • EtherFimid-tier defi integrationTechnology or IntegrationEtherFi is integrated as a partner in Lombard's ecosystem, visible on the homepage partner logo section as a DeFi protocol integration.
  • Franklin Templetonmajor institutional partnerTechnology or IntegrationFranklin Templeton is featured as a partner on Lombard's homepage. As an institutional asset manager, Franklin represents traditional finance integration with the Lombard Bitcoin capital markets infrastructure.
  • Ledgerflagship hardware wallet partnerChannel Partner/ Reseller/ DistributorUnlocked institutional-grade Bitcoin yield for 22% of global BTC through Lombard SDK integration in Ledger hardware wallets.
  • Xversemid-tier wallet partnerChannel Partner/ Reseller/ DistributorDelivered BTC yield without compromising self-custody via Lombard SDK integration. Xverse is a Bitcoin-focused wallet integrated with Lombard infrastructure.
  • Cool Walletmid-tier wallet partnerChannel Partner/ Reseller/ DistributorCaptured BTC users with secure, in-wallet yield via Lombard SDK integration. Cool Wallet is a hardware wallet provider integrated with Lombard.
  • Wintermutemajor market maker and consortium memberTechnology or IntegrationWintermute serves as both a Security Consortium member providing cryptographic validation and a market maker in Lombard's DeFi ecosystem.
  • Vedamid-tier infrastructure partnerTechnology or IntegrationVeda is a vault infrastructure partner using Lombard to expand secure, scalable vault infrastructure into new ecosystems. Quote from Stephanie Vaughan, Co-founder and COO of Veda: 'Lombard has quickly established itself as a blue-chip team.'
  • Redstonemajor oracle partnerTechnology or IntegrationRedstone provides Proof of Reserve oracle feeds for Lombard's LBTC and BTC.b assets, with verified reserves ratio updated in real-time.
  • Immuneficore security partnerTechnology or IntegrationImmunefi hosts Lombard's $250,000 bug bounty program as the official disclosure channel for security vulnerability reports.
  • Cubistflagship infrastructure partnerTechnology or IntegrationCubist is both a Security Consortium member and the provider of CubeSigner (key management in FIPS-140 HSMs) and Bascule Drawbridge (independent verification layer). Cubist is core to Lombard's security architecture.
  • OpenZeppelincore security partnerImplementation/ SI/ Consulting PartnerOpenZeppelin has audited Lombard's smart contracts and architecture as part of the 10+ independent audit program.
  • Sherlockcore security partnerImplementation/ SI/ Consulting PartnerSherlock has audited Lombard's smart contracts as part of the multi-firm security audit program.
  • Veridisecore security partnerImplementation/ SI/ Consulting PartnerVeridise has audited Lombard's smart contracts as part of the comprehensive audit program.
  • Halborncore security partnerImplementation/ SI/ Consulting PartnerHalborn has audited Lombard's smart contracts as part of the multi-firm security audit program.
  • Cantinamid-tier security partnerImplementation/ SI/ Consulting PartnerCantina is listed as a Lombard security audit partner.
  • Spearbitmid-tier security partnerImplementation/ SI/ Consulting PartnerSpearbit is listed as a Lombard security audit partner.
  • Zeppelin Group Limitedmid-tier security partnerImplementation/ SI/ Consulting PartnerSecurity partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.
  • TRM Labsmid-tier security partnerTechnology or IntegrationSecurity and compliance infrastructure partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.
  • Hexagatemid-tier security partnerTechnology or IntegrationSecurity partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project. Hexagate provides real-time anomaly detection for protocol monitoring.
  • Distributed Data Labsmid-tier infrastructure partnerTechnology or IntegrationInfrastructure partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.
  • Informal Systemsmid-tier infrastructure partnerTechnology or IntegrationInfrastructure partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.
  • MME Legal Ltd.mid-tier legal partnerImplementation/ SI/ Consulting PartnerLegal partner listed in the MiCA Whitepaper as involved in the implementation of the Crypto-Asset Project.
  • Kaitomid-tier marketing/distribution partnerGTM or Marketing PartnerKaito distributes BARD airdrop rewards to Kaito Yappers directly at kaito.ai/airdrops, not through the Lombard claim portal. Distribution partner for Lombard's airdrop program.

Scale indicators17 records

Recent moves6 records

Expansion highlights7 records

Lombard competitors and assessment

Company assessment

Direct peers

  • Lido Finance: Largest liquid staking protocol (stETH). Closely comparable to Lombard as a liquid staking primitive generating yield on a base asset, with similar cross-chain DeFi distribution mechanics and LST-as-collateral use cases across Aave and other money markets.
  • Rocket Pool: Decentralized Ethereum liquid staking protocol (rETH). Directly comparable to Lombard's LBTC in that it issues a yield-bearing liquid staking token backed 1:1 by a base asset and designed to be used across DeFi, although the base asset here is ETH rather than BTC.
  • BitGo (WBBTC/WBTC): WBTC is the dominant wrapped Bitcoin product, custodied by BitGo. The most direct competitor to BTC.b and LBTC, with similar 1:1 BTC backing and DeFi distribution; differentiated by single-custodian architecture versus Lombard's distributed Security Consortium.
  • Babylon Protocol: Foundational Bitcoin staking protocol that Lombard is built upon. Closely comparable as the source of LBTC's yield via Bitcoin Secured Networks; effectively a partner but also a peer in the Bitcoin staking and restaking category.
  • EigenLayer: Ethereum restaking protocol enabling ETH and LSTs to secure additional services. Conceptually adjacent to Lombard/Babylon's BTC-secured networks model; both sit in the 'restaking' or 'rehypothecation of base asset economic security' category.
  • Marinade Finance: Liquid staking protocol on Solana (mSOL). Directly comparable to Lombard as a liquid staking primitive with native yield, validator delegation, and DeFi marketplace integrations, although operating on Solana rather than as a Bitcoin-focused protocol.

Broad incumbents

  • Coinbase (cbBTC): Coinbase-issued wrapped Bitcoin (cbBTC) is a newer single-custodian competitor to BTC.b. Comparable as a cross-chain Bitcoin asset with deep DeFi integration, but with the regulatory and balance-sheet advantages of Coinbase as a public, US-regulated exchange.

Emerging players

  • Solv Protocol: Bitcoin yield and liquid staking protocol with similar cross-chain BTC product offerings. Comparable as an emerging player in the Bitcoin DeFi space that also migrated to Chainlink CCIP following the Kelp DAO exploit; partial overlap with Lombard's LBTC and BTC.b distribution.
  • Ankr: Multi-chain liquid staking and node infrastructure provider offering yield-bearing staked assets across chains. Comparable to Lombard in the liquid staking plus DeFi distribution category, with an SDK/API-first developer approach similar to Lombard's Bitcoin Connect SDK.

Others

  • Chainlink: Critical infrastructure partner providing Proof of Reserve oracles and Chainlink CCIP for cross-chain messaging. Not a direct competitor but a foundational ecosystem dependency for Lombard's security and cross-chain architecture.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Lombard social profiles

Digital presence

Lombard compliance and trust

Trust signal

Compliance7 records

Lombard financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Lombard leadership team

Management profile

Number of profiles

Profiles7 records

Lombard subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Lombard funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Lombard M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lombard

What does Lombard do?

Lombard Finance operates a multi-chain Bitcoin capital markets protocol that issues LBTC, a yield-bearing liquid staked Bitcoin token built on the Babylon protocol, and BTC.b, a 1:1 cross-chain Bitcoin asset. The platform enables retail and institutional users to stake native BTC, mint cross-chain Bitcoin, deploy capital into automated yield vaults, and access DeFi markets across 15+ blockchains, all secured by a 14-15 member Security Consortium with multi-party signing and on-chain Proof of Reserve.

Is Lombard a public or private company?

Lombard is a private company. It is classified as venture growth investor backed and is currently operating.

When was Lombard founded?

Lombard was founded in 2024. It employs 11 to 50 people.

Where is Lombard based?

Lombard is headquartered in Sydney, Australia, in the Oceania region.

How does Lombard make money?

Five revenue lines are on record. Redemption Fees are the primary driver. The others are finality Provider Commission, partner Revenue Sharing, institutional Product Fees and minting and Bridging Fees.

Who are Lombard's main competitors?

Direct peers on record are Lido Finance, Rocket Pool, BitGo (WBBTC/WBTC), Babylon Protocol, EigenLayer and Marinade Finance. Coinbase (cbBTC) is listed as a broad incumbent. Emerging players are Solv Protocol and Ankr. Chainlink is listed as an others.

Does Lombard have an API?

Yes. Lombard exposes a partner-facing REST API for integrations and SDK/server endpoints. The Lombard SDK is a TypeScript SDK with packages @lombard.finance/sdk-agent (framework-agnostic, with Vercel AI SDK and LangChain adapters) and @lombard.finance/sdk-agentkit (Coinbase AgentKit ActionProvider). Production endpoints include https://mainnet.prod.lombard.finance/api/v1 (deposit/unstake status) and https://ledger-mainnet.lombard-fi.com:1317 (Cosmos/Tendermint RPC for Proof of Reserve). Partner APIs include POST /api/v2/bsa/locks/initiate for Bitcoin Smart Accounts (requires API_KEY). Authentication is via X-Auth-Api-Key-Token header for BSA. MCP (Model Context Protocol) is supported via the @lombard.finance/sdk-agent package, enabling integration with Claude Desktop. Testnet environment is also available (Base Sepolia, Ethereum Sepolia). Developer documentation is at docs.lombard.finance/build/the-lombard-sdk.

What industry is Lombard in?

Lombard's product category is Bitcoin DeFi Protocol. Its primary akta.pro industry code is FSADADAE, Mint/Redeem, Issuance APIs & Treasury Operations Platforms, with a secondary code of FSAGAMAD, On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury). Its NAICS code is 523 and its SIC code is 6211.

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Live signals
AInvestLombard (BARD) | +4% Daily Gain As BTCFi Narrative Returns — But 90% Down From ATHLombard's BARD token rose ~4% daily and ~17% weekly as BTCFi momentum returned, with LBTC reaching $1B TVL in 92 days. However, 64% of supply remains locked, trading 91.7% below its March ATH, and Circle's cirBTC launch adds competition. Future unlocks and Bitwise covered-call APY performance remain key risks.TradingViewCircle launches Bitcoin-backed USDC borrowing for institutional clientsCircle launched a Bitcoin-backed borrowing service for institutional clients, letting them deposit BTC to mint cirBTC and supply it as collateral to third-party lending markets like Morpho. Borrowed USDC goes directly into the customer's Circle Mint balance, with rates and liquidation thresholds set by the lending protocol. The rollout coincides with cirBTC going live on Arc.BlockfirmsVerifiedX Opens $15M Round to Build Institutional Bitcoin RailsVerifiedX raised $15 million to expand custody, exchange, and lending infrastructure for its Bitcoin-collateralized token vBTC. The funds will support BitGo custody and planned exchange listings, aiming to let institutions use Bitcoin as collateral without wrapping. The company cites less than 1% of institutional Bitcoin earning yield.TipranksAnchorage Digital Supports Lombard Finance’s Institutional Bitcoin Covered-Call StructureAnchorage Digital is supplying institutional infrastructure for Lombard Finance's LBTC covered-call strategy, combining custody, segregated accounts, tri-party agreements, and derivatives services. The structure requires no collateral from Lombard, and Anchorage acts as the institutional desk for options and settlement. This deepens Anchorage's role in institutional Bitcoin yield strategies.Crypto BriefingLombard shifts yield strategy to Bitwise’s covered-call options with $10M pilotLombard Finance is shifting its Ethereum yield strategy to Bitwise's covered-call options, launching a $10 million pilot next week. Bitwise's IETH ETF, using a synthetic covered-call strategy, provides the infrastructure. The partnership also includes a Bitcoin Smart Accounts initiative targeting $500 billion in institutional custody.Crypto BriefingLombard shifts yield strategy to Bitwise’s covered-call options with $10M pilotLombard Finance is partnering with Bitwise Asset Management to integrate a covered-call options strategy into its Ethereum yield product, launching with a $10 million pilot. This move utilizes the infrastructure of Bitwise's Ethereum Option Income Strategy ETF (IETH) to generate income from Ether exposure. The collaboration follows a previous strategic partnership focused on Bitcoin Smart Accounts and highlights the growing institutional adoption of crypto derivatives.AInvestLombard (BARD) | 11.7% 24h Selloff -- What's Behind the Bitcoin LST Token's Slide?Lombard Finance's BARD token dropped 11.7% to $0.1085 on July 28, 2026, five days after the launch of its Bitcoin Onchain Credit Strategy partnership with Flow Traders, as the market responded with 'sell the news' dynamics. The token faces significant dilution risk with 65.7% of its 1 billion total supply (657M tokens) locked without a published unlock schedule, creating approximately $71.3M in potential future selling pressure. The article highlights concerns over opaque tokenomics and lack of a clear value capture mechanism for BARD holders relative to the protocol's $1B+ LBTC TVL, making the current risk/reward unfavorable without greater transparency.AInvestCap (CAP) | Rises 5.8% on Credit Platform Underwriting Lombard's Bitcoin Strategy -- Can Momentum Last?Cap (CAP), a decentralized lending protocol on Ethereum and BNB Chain, has risen 5.8% to $0.02059, extending a 14-day rally driven by its credit platform's new underwriting relationship with Lombard Finance for Bitcoin strategies. The protocol ranks #2 in lending-borrowing volume and trades across 17 exchanges with $8.3M daily volume against a $32.15M market cap. However, 84.4% of the 10B token supply remains locked, with significant cliff unlocks beginning for Team and Private Investor allocations, creating structural dilution risk that the current uptrend has not yet stress-tested.AInvestCap (CAP) | Up 33% This Week as Private Credit Platform Underwrites Lombard's Bitcoin Strategy -- Watch for Dilution OverhangCap (CAP) token surged 33.4% this week to $0.025, driven by news that its private credit platform is underwritng Lombard Finance's Bitcoin staking strategy, marking a real-world institutional credit use case for the protocol. The article highlights extreme dilution risks, with only 15.6% of the 10B max supply circulating and an MC/FDV ratio of 0.16, indicating 84% of token value remains locked. Key monitoring points include the Lombard partnership's lending volume execution, unlock schedule transparency, and the multi-chain strategy traction following the MegaETH termination.AInvestLombard (BARD) Posts Modest 1.2% Gain as Flow Traders Pilots Bitcoin Credit — Steady Recovery From ATL ContinuesLombard's BARD token gained 1.2% to $0.1298 on July 25, 2026, trading 8.3% above its all-time low of $0.1199 set on July 15, as market maker Flow Traders began piloting a Bitcoin-backed stablecoin credit strategy signaling growing institutional adoption. The token has 65.7% of its 1B supply locked over 48 months, creating ~$85M in potential sell pressure at current prices, while the protocol maintains $756.96M in total value locked through its LBTC Bitcoin liquid staking product. Lombard has migrated to Chainlink CCIP for cross-chain security following the Kelp DAO exploit, and investors including Polychain Capital and Franklin Templeton remain locked for 12 months before unlocks begin.