Lombard Finance has announced that LBTC, a Bitcoin-based liquidity staking token, will be launched on the Sui blockchain, marking its first expansion to a non-Ethereum Virtual Machine (EVM) compatible chain. This expansion expands LBTC beyond the blockchains it currently uses, including Ethereum, Base, and BNB Chain, with the aim of using Bitcoin as collateral for decentralized finance (DeFi) applications.