Lombard launches cross-chain interest-bearing Bitcoin token LBTC

Lombard has publicly launched LBTC, a "cross-chain interest-bearing Bitcoin token designed for DeFi use." The team stated: "This release comes after a successful internal test that attracted deposits of $165 million from over 600 institutional investors. LBTC allows users to pledge Bitcoin through Babylon and use it in various DeFi protocols. Initial integrations include major DeFi protocols such as Symbiotic, Morpho, Pendle, Corn, Gauntlet, Derive, EtherFi and Gearbox."