According to the teams, Ava Labs has transferred the infrastructure supporting BTC.b, the bitcoin-backed token on the Avalanche blockchain, to Lombard Finance Limited, marking a change in how the asset will be managed across blockchain networks.
Lombard to Oversee BTC.b Bridge Following Agreement With Ava Labs
The handover gives Lombard control of BTC.b’s technical framework and bridge system, which links native bitcoin ( BTC) to Avalanche. The companies said the transition is intended to maintain BTC.b’s current function on Avalanche while extending its compatibility with other blockchains.
BTC.b, introduced in 2022, has been used in decentralized finance (DeFi) applications on Avalanche, with roughly $550 million in circulation. The asset is integrated into platforms including Aave, BENQI, and LFJ. Lombard plans to align BTC.b’s operations with the same security setup used for its Lombard Staked BTC (LBTC) token.
According to the announcement, BTC.b tokens will continue to be backed one-to-one by bitcoin ( BTC), with reserves verified through Chainlink Proof of Reserve and supported by a group of independent institutions. The transition will allow BTC.b to function on multiple blockchains, including Ethereum, Solana, and MegaETH, and connect to additional defi protocols.
Ava Labs executive John Nahas said the change is meant to preserve BTC.b’s stability on Avalanche while expanding its technical reach. Lombard Co-Founder Jacob Phillips described the acquisition as part of Lombard’s ongoing integration of bitcoin assets across multiple networks.
The migration is expected to be completed in the fourth quarter of 2025. Both BTC.b and LBTC are expected to operate on Avalanche and other supported blockchains once the process concludes.
FAQ
- What is BTC.b? BTC.b is a bitcoin-backed or wrapped bitcoin token originally issued on the Avalanche blockchain.
- **What changes under Lombard’s management?**Lombard will oversee the infrastructure while maintaining BTC.b’s function and integrations
- Will BTC.b remain backed by bitcoin? Yes. Each token continues to represent one bitcoin, with reserves verified onchain.
- **When will the transition conclude?**The process is expected to finish in the fourth quarter of 2025.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Price Prediction Turns Bullish While the PEPE Cofounder’s Presale Captures Capital That SUI’s Technical Bounce Cannot Deliver
The debate around the bitcoin price prediction in March 2026 is becoming increasingly constructive. After Bitcoin surged past $73,000 with whale accumulation accelerating and ETF inflows returning, bullish traders have reason to re engage. But the broader market structure still leaves room
CaptainAltcoin7m ago
YouTube comedy short "Crypto Castle" is now available, telling the stories of early users from the era when Bitcoin was worth $250.
Gate News: On March 18, YouTube comedy short film "Crypto Castle" officially launched. The short film is set in an era when Bitcoin's price was only $250, featuring actress Viv Ford playing the lead role of Viv, telling the story of her living together with four early Bitcoin users in an apartment. Through its storyline, the short film showcases the development and evolution of cryptocurrency as a subculture.
GateNews11m ago
'Crypto Castle': YouTube Comedy Takes You Back to When Bitcoin Was Just $250
In brief
New YouTube series "The Crypto Castle" dials back the clock to 2015, when Bitcoin was just $250.
Viv Ford stars as Viv, who moves into a house full of early Bitcoin adopters.
The show looks at crypto as a subculture, and how it's evolved since the early days.
“Crypto culture
Decrypt17m ago
In the past 1 hour, the entire network liquidated $122 million, with ETH and BTC combined liquidations exceeding $100 million.
Gate News reports that on March 18, Coinglass data shows that the entire network liquidated $122 million in the past hour. Among these, long positions liquidated $118 million and short positions liquidated $3.61 million. By cryptocurrency, ETH liquidations reached $54.45 million and BTC liquidations reached $48.87 million, with the two combined accounting for over 80% of total liquidations.
GateNews22m ago
Bitcoin drops below 71,000 USDT, with an intraday decline of 3.96%
Gate News reports that on March 18, according to market data, Bitcoin fell below 71,000 USDT, now trading at 70975.00 USDT, with a daily decline of 3.96%.
GateNews31m ago
Bitcoin mining company HIVE launches its first AI GPU cluster in Paraguay
Gate News reported that on March 18, Bitcoin mining company HIVE launched its first AI GPU cluster in Paraguay, expanding its business scope beyond Bitcoin mining.
GateNews31m ago
