Lombard Finance · Bitcoin · Strategy · The Block
Flow Traders pilots Lombard’s new bitcoin-backed credit strategy for stablecoin borrowing
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Bitcoin financial products startup Lombard Finance (BARD) is launching a new product called the Bitcoin Onchain Credit Strategy with global trading firm Flow Traders (Euronext: FLOW) as a pilot partner.
Key facts
- Founded in 2024, Lombard previously raised $17 million in seed funding led by Polychain Capital, with participation from Franklin Templeton, Bybit, YZi Labs (previously Binance Labs), and others
- The vault has attracted over $1 billion in deposits from more than 38,500 users total, and compounds returns BTCe, and also can earn rewards paid in BARD tokens
- Bitcoin financial products startup Lombard Finance (BARD) is launching a new product called the Bitcoin Onchain Credit Strategy with global trading firm Flow Traders (Euronext: FLOW) as a pilot
- The announcement notes Lombard has tapped Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to secure cross-chain deposits of BTC.b directly from Avalanche into an Ethereum vault
Summary
The offering will enable Flow to borrow stablecoins for market-making without posting its own onchain collateral. "Liquidity providers like Flow Traders use stablecoin financing to efficiently support their digital asset trading operations," Global Head of Digital Assets at Flow Traders Michael Lie said. Bitcoin Earn is Lombard’s bitcoin yield product designed to enable users to deposit tokens like LBTC, BTC.b, WBTC, or native BTC into a single vault, currently operated by professional managers Sentora and powered by Veda infrastructure, in exchange for BTCe receipt tokens, according to its documentation. Bitcoin Earn operates as a so-called meta-vault, or fund-of-funds architecture, for bitcoin yield, where the Bitcoin Onchain Credit Strategy operates as one allocation sitting inside it.