Lombard Finance Introduces a Toolkit to Unlock the Potential of Bitcoin's $154 Billion DeFi Market
Major exchanges such as Binance and Bybit have already implemented an SDK that routes staked BTC to Lombard's DeFi vault.
Author: Francisco Rodriguez | Edited by: Parikshit Mishra Updated: Apr 17, 2025 12:59 pm Published: Apr 17, 2025 12:00 pm
What you should know:
- Lombard Finance has introduced software that allows BTC staking with minimal settings.
- Bybit and Binance are among the first companies to use the SDK in an effort to tap into $154 billion in dormant Bitcoin.
- According to the protocol, this tool allows platforms to open up new sources of income and maintain user interest.
Lombard Finance, a Bitcoin infrastructure developer, has released a software development kit (SDK) that makes it easier for wallets, exchanges and other platforms to offer one-click Bitcoin (BTC) staking.
The main goal of this release is to bring BTC more into the decentralized finance (DeFi) economy, leveraging the estimated $154 billion worth of Bitcoin that is sitting idle on centralized exchanges.
The new toolset allows users to stake BTC to issue a liquid staking token called LBTC, which can be automatically placed in Lombard's DeFi vault with a current annualized yield of 3%, as specified in the protocol.
“Bitcoin has previously been seen as a store of value, but it is now increasingly integrated into DeFi, opening up new earning opportunities for BTC holders,” said Jacob Phillips, co-founder of Lombard Finance, adding that the SDK simplifies the process for both platforms and users.
Leading cryptocurrency exchanges Binance and Bybit have already implemented the SDK, with additional integrations planned with wallets such as xVerse, Metamask, and Trust Wallet. For these platforms, the integration opens up new revenue streams and helps maintain user engagement with the new DeFi offering, Lombard says.
Bitcoin staking via Lombard began seven months ago and has grown into a $4 billion market. Lombard's DeFi Vault, powered by smart contract provider Veda, currently manages over $200 million in total value locked.
Last month, the protocol expanded with the launch of the liquid Bitcoin token LBTC on the Sui blockchain.
