BlockBeats reported that on October 16, The Block reported that Binance Labs invested in Lombard, a Bitcoin liquidity staking platform. Lombard’s total financing amount is currently around $17 million, an increase from the $16 million seed round of financing about four months ago, and Binance Labs invested about $1 million.
BlockBeats previously reported that on July 2, Lombard completed a $16 million seed round of financing, led by Polychain Capital. Lombard will use the funds to expand its Bitcoin heavy staking ecosystem and develop with the Bitcoin staking protocol Babylon. Lombard releases liquidity by issuing liquid and profitable staked Bitcoin tokens LBTC.
