On August 28, COINOTAG reported that DeFi protocol Lombard launched the yield-bearing Bitcoin asset LBTC on the Solana network, expanding its cross-chain footprint in tokenized Bitcoin products.
LBTC is issued as an SPL token by Lombard and is described as fully backed by Bitcoin; custody integrity is maintained through a decentralized validator network and on-chain mechanisms that provide real-time proof of reserves.
The asset has prior deployments on Ethereum, Base and Sui, and Lombard reports a circulating supply of $1.5 billion, reflecting LBTC’s multi-chain availability for yield-focused Bitcoin exposure.