The Bitcoin re-staking project Babylon Labs and leading secure Bitcoin infrastructure developers today announced a strategic plan aimed at integrating BTC with Sui and bringing Bitcoin liquidity into the Sui ecosystem.
This partnership aims to develop a decentralized finance (DeFi) ecosystem by using LBTC as collateral, and it is expected to attract BTC holders to better utilize their Bitcoin through LBTC (the largest liquid staking provider on Babylon).
Unlocking $1.8 trillion in assets
According to the plan, Bitcoin holders will be able to stake BTC through the Babylon staking protocol, and receive LBTC natively minted on Sui before December. LBTC will become the core asset of the Sui DeFi ecosystem, enabling lending and trading, to unlock the astonishing $1.8 trillion liquidity of Bitcoin.
Fisher Yu, co-founder and CTO of Babylon Labs, stated in a press release shared with the International Business Times: “Babylon is building native use cases for BTC, bringing the security and liquidity of Bitcoin into decentralized systems. We are excited that Sui shares this vision with us and collaborates with us and our partners to make it a reality on Sui.”
Lombard enters this field with rich experience and proven efficiency. It has demonstrated the strong capabilities of BTC liquidity on Ethereum, with its flagship LBTC token minting assets exceeding $1 billion, with over half of LBTC active in DeFi applications. This validated model will be introduced to Sui.
Jacob Phillips, co-founder of Lombard, stated: “The $1.8 trillion market cap of Bitcoin represents enormous untapped potential. We are building a future together that allows Bitcoin holders to fully participate in next-generation on-chain finance without compromising security or liquidity.”
On the other hand, Cubist is building the infrastructure to bring BTC to Sui. It will provide the highest level of security and performance in key management for efficient deposits, minting, staking, and bridging.
Jameel Khalfan, head of ecosystem development at the Sui Foundation, stated: “Bringing BTC to Sui is a match made in heaven. Thanks to the collaboration with Babylon, Lombard, and Cubist, users from all blockchain ecosystems can come to Sui and participate in a thriving financial services ecosystem where Bitcoin will play a role.”
Bringing value to Sui's DeFi space
There has been growing interest in leveraging the power of BTC within the Sui DeFi ecosystem. NAVI, one of the leading lending protocols on Sui, has expressed plans to collaborate with Lombard to support LBTC pools on the protocol.
Elliscope Fang, CEO of NAVI, stated: “As the largest liquid staking issuer of Bitcoin, Lombard's latest collaboration with Cubist will cultivate a new revolutionary era for Sui and Bitcoin. NAVI is excited to work with the teams at Babylon Labs, Lombard, and Cubist to bring the value of staking Bitcoin to Sui DeFi users.”
The advantages and effectiveness of Sui lie in its programmability and composability, making it the primary foundational coordination layer for all digital assets.
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