Lombard, Babylon, and Cubist Join Forces to Bring Bitcoin to Sui

Lombard is proud to announce a strategic initiative with Babylon Labs and the Sui Foundation to integrate Bitcoin with Sui, the innovative Layer 1 blockchain and smart contract platform. Together, we are introducing LBTC, Lombard’s flagship liquid staked Bitcoin, to Sui, empowering Bitcoin holders to unlock the immense liquidity of their assets within Sui’s vibrant decentralized finance (DeFi) ecosystem.

At Lombard, we are building a simple, secure, and transparent mechanism for liberating Bitcoin liquidity and yield. Our flagship product, LBTC, stands as the universal liquid Bitcoin standard, enabling Bitcoin holders to earn yield, stay liquid, and retain full control of their assets. With Proof of Reserves from Day 1 and partnerships with industry leaders like Chainlink and Ether.fi, LBTC sets the standard for security and transparency in Bitcoin DeFi.

We’ve already demonstrated the transformative power of Bitcoin liquidity on Ethereum, where LBTC has surpassed $1 billion in market cap. More than half of LBTC is actively deployed in DeFi, providing stable, secure, and liquid collateral backed by native Bitcoin to meet the rigorous demands of institutional users and protocols alike. Now, we’re bringing this proven model to Sui.

“Bitcoin’s $1.9 trillion market capitalization represents enormous untapped potential. By collaborating with Babylon and Cubist, we’re enabling Bitcoin holders to fully participate in next-generation on-chain finance without sacrificing security or liquidity. On Sui, LBTC will act as a secure, liquid, and universally accessible asset, powering lending, trading, and other DeFi applications”, said Jacob Phillips, Co-Founder of Lombard.

Unlocking Bitcoin’s Potential on Sui

The Sui Foundation shares our enthusiasm for the collaboration.

“Bringing BTC to Sui is a perfect match,” said Jameel Khalfan, Head of Ecosystem Development at the Sui Foundation. “This partnership with Babylon, Lombard, and Cubist allows users from all blockchain ecosystems to experience a thriving ecosystem of financial services where Bitcoin takes center stage.”

Cubist plays a crucial role in this initiative by providing secure and scalable infrastructure to mint LBTC natively on Sui. Their cutting-edge CubeSigner technology ensures the highest levels of security and performance for deposits, minting, and staking, enabling a safe and efficient integration.

Lombard’s leadership in DeFi extends beyond this collaboration. As the largest contributor to the Babylon Bitcoin Staking Protocol, we are actively partnering with leading DeFi projects such as Ether.fi, Symbiotic, Pendle, Maple, and others to expand the ecosystem for Bitcoin-based decentralized finance.

Driving Innovation in Blockchain

The Sui ecosystem has already attracted developers and innovators building diverse applications, from DeFi platforms like NAVI to real-world uses such as tokenized securities and gaming. With the addition of LBTC, Sui’s DeFi ecosystem is set to flourish.

Elliscope Fang, CEO of NAVI, shared his excitement: “As the leading liquid staking issuer for Bitcoin, Lombard’s integration with Sui represents a revolutionary step forward. NAVI is thrilled to support LBTC pools, empowering users to leverage staked Bitcoin in groundbreaking ways.”

With a foundation built on utility, security, and innovation, we can push the boundaries of what Bitcoin can achieve, and pioneer the future of Bitcoin in DeFi.

This collaboration marks a new chapter in Bitcoin’s role within the broader blockchain ecosystem. By integrating Bitcoin with Sui, we are not just introducing a new asset, we are pioneering a secure, scalable, and user-friendly framework for integrating Bitcoin safely and securely into advanced blockchain ecosystems

About Lombard

Lombard is the leading developer of secure Bitcoin infrastructure, dedicated to unlocking Bitcoin’s potential. With its flagship product LBTC, the Universal Liquid Bitcoin Standard, Lombard empowers users to earn yield, stay liquid, and keep control over their Bitcoin. Developed to meet the rigorous demands of institutional users and DeFi protocols, LBTC provides stable, secure, and liquid collateral, backed by native Bitcoin. Lombard’s trusted solutions enable DeFi protocols, institutions, and blockchains to integrate Bitcoin seamlessly and securely, creating new opportunities for the digital economy. Driven by an uncompromising commitment to security and innovation, Lombard is shaping the future of Bitcoin in DeFi.

About Sui

Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences. Learn more: https://sui.io

About Babylon

Babylon is a project that focuses on Bitcoin security sharing protocols with a vision of building a Bitcoin-secured decentralized world. Its latest development is the world’s first trustless and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on Proof-of-Stake (PoS) systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling them to earn staking rewards without the need for third-party custody, bridge solutions, or wrapping services. Babylon combines the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin's utility.

Babylon was founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu. Professor Tse is a member of the U.S. Academy of Engineering and is renowned as the inventor of the legendary proportional-fair scheduling algorithm for wireless communications. Babylon is led by a team of consensus protocol researchers and experienced layer 1 engineers from around the world.

About Cubist

Cubist is a key management infrastructure company specializing in security for protocols, staking, treasury operations, and other security-critical applications which require low latency and high throughput. Their platform, CubeSigner, is the industry’s only non-custodial key management solution to offer policy-protected workflows and anti-slashing for Babylon staking. CubeSigner's hardware-enshrined contracts unlock programmability for Bitcoin and enable decentralized protocols like Lombard to provide smart contract-level security to end users. Core infrastructure teams across the top ten ecosystems are using CubeSigner's support for Bitcoin, Sui, EVM, Solana, and many other chains to safely manage their own keys and to power products used by millions of users. The company was founded in 2022 by a former fintech COO and professors from Carnegie Mellon University and UC San Diego who have published more than 80 peer-reviewed papers on computer security.