Ava Labs Transfers BTC.b Infrastructure to Lombard for Multi-Chain Use

Coinpedia

2025-10-30 21:21:28

BTC1,45%

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.