Chainlink Powers Lombard's Bitcoin Credit Strategy

Lombard, a financial institution, has launched a new Bitcoin Onchain Credit Strategy that allows institutional borrowers to access stablecoin lending. This strategy is powered by Chainlink's Cross-Chain Interoperability Protocol (CCIP), which enables secure cross-chain deposits of BTC.b and LBTC into the strategy.

According to Lombard, the company has partnered with Flow Traders, a Euronext-listed trading firm, to use this new strategy. Flow Traders is already using the strategy to access stablecoin liquidity.

Lombard's Labs Co-Founder and CEO Jacob Phillips stated that the structure of this strategy separates the borrower from the collateral provider, allowing regulated enterprise firms to tap into onchain credit for the first time.