Lombard Finance will launch the Bitcoin-backed liquid staking token LBTC on Sui

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