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
Hands-on Review by Bitcoin.com - Digging Into Xapo Bank’s World
Hands-on Review by Bitcoin.com.
Bitcoin has matured far beyond its early days as a niche digital experiment. Today, many holders are thinking less about short-term trading and more about long-term wealth management. That shift raises a practical question: if Bitcoin is a major financial asset,
Coinpedia3m ago
Bitcoin Trades Narrow Range As Resistance Holds Near $71K
Bitcoin is trading around $70,335, showing a 2.13% decline in 24 hours. Analysts note a resistance near $71,400 and a consolidation phase, with traders awaiting a decisive breakout above or below established support and resistance levels.
CryptoBreaking27m ago
Tether Backs Ark Labs’ $5.2 Million Bet on Bitcoin’s Stablecoin Revival
In brief
Ark Labs secured backing from Tether and Anchorage Digital.
The firm plans to advance stablecoins and real-world assets on its Bitcoin layer.
The technology processes transactions off-chain, with fail-safe measures.
Tether has backed Ark Labs in a $5.2 million seed round, as the
Decrypt1h ago
Best Crypto Presale to Buy in 2026: a Second Chance After Missing Bitcoin
Missed Bitcoin? That still hurts. Not just because the price went wild, but because the biggest upside came when almost nobody cared. That was the window when a small conviction could turn into something huge. Then the crowd showed up. The story
BlockChainReporter1h ago
A certain whale simultaneously established short positions for both ETH and BTC on Hyperliquid within 1 hour, with a total scale exceeding $60 million.
On March 12, whale address 0x049 created short positions exceeding $60 million in ETH and BTC on the Hyperliquid platform, with ETH shorts of approximately $30.1 million and BTC shorts of approximately $30.06 million, both facing certain unrealized losses.
GateNews1h ago
