Lombard Finance to launch Bitcoin-based liquid staking token LBTC on Sui

Lombard Finance announced that LBTC, a Bitcoin-based liquidity collateral token, will be launched on the Sui blockchain, marking its first expansion beyond Ethereum Virtual Machine (EVM) compatible chains. This expansion will extend LBTC beyond its current usage on blockchains including Ethereum, Base, and BNB Chain, aiming to use Bitcoin as collateral for decentralized finance (DeFi) applications.