The world’s largest crypto exchange platform by volume is adding support for a Bitcoin (BTC) decentralized finance (DeFi) protocol.
In a new announcement, Binance says it will be adding Lombard (BARD) – a liquid staking Bitcoin protocol – to its suite of products.
“Binance is excited to announce that Lombard (BARD) will be added to Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, Binance Margin, and Binance Futures.”
News of the addition preceded a massive downward price swing for BARD, as the asset went from a peak of $1.70 earlier on the day to its current price of $1.05, a 38% decrease during the last 24 hours.
According to Lombard’s official website, Lombard was founded in 2024 with the aim of bringing liquidity to BTC and was able to garner $1 billion in total value locked (TVL) in just 92 days with its BTC-based product, Lombard Staked Bitcoin (LBTC).
“Sixteen years ago, Bitcoin set the foundation for the onchain revolution, inspiring DeFi, stablecoins, and the tokenization movement. Yet today, BTC sits idle and its ecosystem remains dormant. Lombard exists to change this.
Our vision is clear: be the driving force for Bitcoin onchain, just as Circle and Tether were for stablecoins. We aren’t just building the infrastructure, we’re creating the liquidity flywheels, distribution engines, and onboarding mechanisms that power industry-wide growth.”
Lombard says it sparked a revival within the world of BTC DeFi, forcing other protocols to prioritize BTC integrations.
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