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
Crack down on illegal black markets! The UK considers opening up the gaming market to accept cryptocurrency payments
Author: Fenrir, Crypto City
From the regulatory gray area to the mainstream, the UK Gambling Commission explores the possibility of crypto asset payments
The UK Gambling Commission (UKGC) recently signaled a major policy shift, planning to formally explore the integration of cryptocurrencies into compliant gambling markets. During the annual conference of the Betting and Gaming Council (BGC) in London, the commission’s Director of Research and Policy Implementation, Tim Miller, pointed out that digital assets are transitioning from the regulatory gray area to mainstream payment options.
Image source: Lottery Daily | UK Gambling Commission (UKGC) Director of Research and Policy Implementation Tim Miller
This move reflects the UK government’s commitment to establishing the country as a global “crypto hub,” and aims to connect one of the largest economic pillars domestically with modern consumer payment preferences. According to statistical data, currently
区块客9m ago
Data: 435.91 BTC transferred from an anonymous address, worth approximately 20.71 million USD
ChainCatcher message: According to Arkham data, at 21:39, 54.999894 BTC (worth approximately $3.92 million) was transferred from an anonymous address (starting with 168Bve...) to Cumberland DRW.
GateNews27m ago
DDC Enterprise Bitcoin reserves increase to 2,183 coins, continuing the BTC treasury strategy
DDC Enterprise Limited releases preliminary financial results for early 2025, with revenue expected to reach $39 million to $41 million. Adjusted EBITDA shows an improvement in profitability. Meanwhile, the company continues to increase its Bitcoin holdings, now holding 2,183 coins, with plans for long-term accumulation of this asset. The audit report will be released in mid-April.
GateNews30m ago
Ray Dalio Questions Bitcoin as Safe Haven While Gold Strengthens Its Global Reserve Role
Ray Dalio says central banks still prefer gold as a reserve asset while Bitcoin lacks strong institutional support globally.
Ray Dalio warns Bitcoin moves like tech stocks which weakens its role as a safe haven during market stress.
He highlighted privacy limits and future quantum
CryptoNewsLand36m ago
Best Crypto To Buy Now: Van Eck Says Bitcoin May Soon Bottom, Solana Faces Resistance at $89, But Deepsnitch AI 100X Potential Draws Investors
In an interview with CNBC, van Eck suggested that Bitcoin may be approaching a cycle bottom, following historical halving patterns. BTC is still stuck below $70k while Solana has repeatedly failed to break past resistance at $89. With market leaders facing key resistance, investors are
CaptainAltcoin36m ago
WuBlockchain Space: Is the accusation that "Jane Street manipulates Bitcoin" just a conspiracy theory?
The WuBlockchain Space program analyzed allegations of Jane Street manipulating Bitcoin prices via ETFs and derivatives. Guests argued that claims of "crypto harvesting" are conspiratorial, with sell-offs reflecting normal market activities rather than intentional manipulation. Recent crypto price volatility is attributed to market structure, liquidity, and macroeconomic factors rather than fear, uncertainty, and doubt. Investors are advised to be cautious of speculative interpretations.
TapChiBitcoin43m ago
