The SUI Foundation is partnering with Babylon Labs, Lombard, and Cubist to introduce BTC into the SUI ecosystem.

BTC re-stake project Babylon Labs and leading secure BTC infrastructure developer today jointly announced a strategic plan, aimed at integrating BTC with Sui, and introducing BTCLiquidity into the Sui ecosystem.

This partnership aims to develop the Decentralized Finance (DeFi) ecosystem by using LBTC as collateral, and is expected to attract BTC holders to better utilize their BTC through LBTC (the largest liquidity provider on Babylon).

Unlocking $18 trillion in assets

According to the plan, BTCholder will be able to stake BTC through Babylon stakeprotocol and native mint LBTC on Sui before December. LBTC will become the core asset of the Sui Decentralized Finance ecosystem, enabling borrowing and trading to unlock the astonishing 1.8 trillion USD Liquidity of BTC.

Fisher Yu, co-founder and CTO of Babylon Labs, said in a press release shared with the International Business Times, "Babylon is building native use cases for BTC, bringing its security and liquidity into the decentralized system. We are excited that Sui shares this vision with us and is working with us and our partners to make it a reality on Sui."

Lombard, with its rich experience and proven efficiency, enters this field. It demonstrates the strong capability of BTC Liquidity on the ETH network, with its flagship LBTC Token's mint assets exceeding 1 billion USD, and over half of the LBTC being active in Decentralized Finance applications. This validated model will introduce SUI.

Jacob Phillips, co-founder of Lombard, said: "Bitcoin's market capitalization of $1.8 trillion represents enormous untapped potential. We are working together to build a future where BTC holders can fully participate in the next generation of on-chain finance without compromising security or liquidity."

On the other hand, Cubist is building the infrastructure to bring BTC into Sui. It will provide the highest level of security and performance for Secret Key management to achieve efficient deposit, minting, staking, and bridging.

Sui Foundation ecosystem development lead Jameel Khalfan said: "Introducing BTC to Sui is a match made in heaven. Thanks to collaborations with Babylon, Lombard, and Cubist, users from all blockchain ecosystems can come to Sui and participate in a thriving Financial Service ecosystem, where BTC will play a role."

Bring value to SUI's Decentralized Finance space

There has been growing interest in harnessing the power of BTC within the Sui Decentralized Finance ecosystem. NAVI, one of the leading lending protocols on Sui, has announced plans to collaborate with Lombard to support LBTC pools on the protocol.

Elliscope Fang, CEO of NAVI, said: "As the largest liquid stake issuer of BTC, the latest collaboration between Lombard and Cubist will foster a new era of revolution for Sui and BTC. NAVI is excited to partner with the Babylon Labs, Lombard, and Cubist teams to bring the value of stakeBTC to Sui Decentralized Finance users. ”

The advantage and effectiveness of SUI lies in its programmability and composability, making it the primary foundational coordination layer for all digital assets.