Lombard has publicly launched LBTC, a "cross-chain interest-bearing bitcoin token designed for DeFi use". "The launch follows a successful closed beta that attracted $165 million deposits from over 600 institutional investors," the team said. "LBTC allows users to pledge bitcoin via Babylon and is used across various DeFi protocols. Initial integrations include major DeFi protocols such as Symbiotic, Morpho, Pendle, Corn, Gauntlet, Derive, EtherFi and Gearbox."