According to the teams, Ava Labs has transferred the infrastructure supporting BTC.b, the bitcoin-backed token on the Avalanche blockchain, to Lombard Finance Limited, marking a change in how the asset will be managed across blockchain networks.
Lombard to Oversee BTC.b Bridge Following Agreement With Ava Labs
The handover gives Lombard control of BTC.b’s technical framework and bridge system, which links native bitcoin ( BTC) to Avalanche. The companies said the transition is intended to maintain BTC.b’s current function on Avalanche while extending its compatibility with other blockchains.
BTC.b, introduced in 2022, has been used in decentralized finance (DeFi) applications on Avalanche, with roughly $550 million in circulation. The asset is integrated into platforms including Aave, BENQI, and LFJ. Lombard plans to align BTC.b’s operations with the same security setup used for its Lombard Staked BTC (LBTC) token.
According to the announcement, BTC.b tokens will continue to be backed one-to-one by bitcoin ( BTC), with reserves verified through Chainlink Proof of Reserve and supported by a group of independent institutions. The transition will allow BTC.b to function on multiple blockchains, including Ethereum, Solana, and MegaETH, and connect to additional defi protocols.
Ava Labs executive John Nahas said the change is meant to preserve BTC.b’s stability on Avalanche while expanding its technical reach. Lombard Co-Founder Jacob Phillips described the acquisition as part of Lombard’s ongoing integration of bitcoin assets across multiple networks.
The migration is expected to be completed in the fourth quarter of 2025. Both BTC.b and LBTC are expected to operate on Avalanche and other supported blockchains once the process concludes.
FAQ
- What is BTC.b? BTC.b is a bitcoin-backed or wrapped bitcoin token originally issued on the Avalanche blockchain.
- **What changes under Lombard’s management?**Lombard will oversee the infrastructure while maintaining BTC.b’s function and integrations
- Will BTC.b remain backed by bitcoin? Yes. Each token continues to represent one bitcoin, with reserves verified onchain.
- **When will the transition conclude?**The process is expected to finish in the fourth quarter of 2025.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Strategy Founder: Retail investors hold about 80% of the preferred stock STRC.
Gate News reported that on March 27, Michael Saylor, co-founder and executive chairman of Strategy, stated that retail investors hold approximately 80% of the company's perpetual preferred stock, STRC. This perpetual preferred stock is the primary financing tool that Strategy designed for the continuous purchase of Bitcoin.
GateNews9m ago
Crypto Fear Index rises to 13, market "fear" sentiment slightly eases
BlockBeats News, March 27 — According to Alternative data, today’s cryptocurrency Fear and Greed Index is 13 (yesterday was 10), indicating a slight easing of market "fear" sentiment.
Note: The Fear and Greed Index threshold is 0-100, including indicators: volatility (25%), market trading volume (25%), social media buzz (15%), market surveys (15%), Bitcoin’s proportion in the overall market (10%), and Google trending searches analysis (10%).
BlockBeatNews20m ago
Peter Brandt: Bitcoin shows a sell signal
Renowned trader Peter Brandt posted a chart indicating that Bitcoin's price is forming an ascending wedge pattern, suggesting a possible decline. The current price is in the $65,000-$70,000 range, and Brandt previously accurately predicted a short-term rebound for Bitcoin.
BlockBeatNews21m ago
Michael Saylor：Strategy优先股STRC约80%由散户持有
Strategy founder Michael Saylor revealed that approximately 80% of the company's issued perpetual preferred stock STRC is held by retail investors, with an annualized return of about 11.5%. The product aims to serve as a low-volatility income tool, with plans to raise $42 billion. As demand for STRC grows, Strategy's Bitcoin allocation capacity is expected to increase.
BlockBeatNews21m ago
The current mainstream CEX and DEX funding rates indicate that the market bearish sentiment has weakened.
According to BlockBeats, Bitcoin prices have slightly declined, and the funding rates on major exchanges indicate a weakening of the bearish market sentiment. The funding rate is a mechanism that adjusts the difference between the contract price and the underlying asset price.
BlockBeatNews22m ago
Renowned trader Peter Brandt: BTC is forming an ascending wedge pattern, which may trigger a sell signal.
Gate News reports that on March 27, well-known trader Peter Brandt posted on social media early this morning stating that Bitcoin's current trend is forming a Rising Wedge pattern, which could trigger a sell signal. Peter Brandt successfully predicted the Bitcoin crash in 2018.
GateNews27m ago
