PANews reported on March 6 that according to CoinDesk, Lombard Finance announced that its Bitcoin liquid pledge token LBTC will be launched on the Sui blockchain on March 12. This is the first time that LBTC has been integrated into a non-EVM-compatible chain. Currently, LBTC has been deployed on EVM-compatible networks such as Ethereum, Base and BNB Chain, with a circulation of nearly US$2 billion, of which 70% has been used in DeFi protocols such as Aave and Morpho.
LBTC will be supported by Sui Wallet and Phantom Wallet, and will be integrated into the Sui protocols with the highest TVL, such as Cetus, Navi Protocol, and SuiLend. In addition, Lombard Finance plans to launch incentives to encourage Bitcoin adoption in the Sui ecosystem, and hints that it may expand to more non-EVM networks in the future.
