Hassan Maishera
On Monday, the Sui team announced via X that the Sui Foundation has partnered with Babylon Labs, Lombard, and Cubist to integrate BTC with the Sui blockchain. With this partnership, Bitcoin holders can stake BTC through the Babylon staking protocol and receive LBTC natively minted on Sui by December.
LBTC will become a core asset in Sui's DeFi ecosystem pe, enabling lending, borrowing, and trading to unlock Bitcoin's staggering $1.8 trillion worth of liquidity on Sui. Lombard’s LBTC token has surpassed $1 billion in minted assets, and over half of LBTC is active in DeFi applications.
Meanwhile, Cubist is building the infrastructure that will bring BTC to Sui. It will provide key management with the highest levels of security and performance to allow for efficient deposits, minting, staking, and bridging.
Sui is a Layer 1 blockchain designed to provide top-notch developer and user experiences backed by robust technological foundations. SUI is down 4.5% in the last 24 hours, trading at $3.2662 per coin.
