PANews reported on October 31 that, according to The Block, Bitcoin DeFi protocol Lombard Finance announced the acquisition of Avalanche's (AVAX) cross-chain Bitcoin asset BTC.b and its related infrastructure. The transaction was initiated by Ava Labs. BTC.b has a market capitalization of approximately $502 million and will continue to operate on Avalanche, with its contracts and name remaining unchanged.
Lombard Finance acquires Avalanche's cross-chain Bitcoin asset BTC.
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