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Crypto
Lombard Finance launches bitcoin-backed credit product with Flow Traders as pilot partner
Lombard Finance, a bitcoin financial products startup, is launching a new product called the \"Bitcoin Onchain Credit Strategy,\" with global trading firm Flow Traders taking part as a pilot partner. The product is designed to let Flow borrow stablecoins for market-making without posting its own onchain collateral. Instead, bitcoin deposited in Lombard’s Bitcoin Earn yield product serves as collateral through an underwriting structure run on the CAP private credit platform.
Crypto
Bitcoin utility boom fades? What Botanix shutdown raises for crypto
Bitcoin layer2 project Botanix has announced it will shut down, saying it did not work in the current market and at this point in time. A report said Botanix concluded efforts to make bitcoin programmable and integrated into real financial activity are not where ordinary users want them. Data show bitcoin on-chain DeFi remains far smaller than Ethereum. Developers said the shutdown does not mean bitcoin utility is dead, and argued for focusing on realistic products and existing liquidity.
Crypto
Circle launches cirBTC on Ethereum, targets institutional bitcoin collateral infrastructure
Circle has launched cirBTC, a bitcoin token on Ethereum backed 1:1 by native bitcoin, positioning it as a starting point for building institutional collateral infrastructure. The company said it holds the underlying bitcoin through its own entity and manages reserves separately from corporate assets, with on-chain reserve visibility. The product is designed to work with Circle Mint and USDC flows and is expected to add Arch and other chains.
