Sui partners with Babylon Labs and Lombard to add Bitcoin staking

Sui is entering the Bitcoin staking market through partnerships with Babylon Labs and Lombard Protocol.

The collaboration between Sui (SUI), Babylon and Lombard targets the $1.8 trillion Bitcoin (BTC) market and creates a major attraction for users. Leveraging Bitcoin liquidity will grow Sui’s decentralized finance ecosystem and enable BTC holders to stake their coins to Babylon.

BTC stakers will receive Lombard’s liquid staking token, LBTC, which will be minted locally on Sui.

Starting in December, Sui will introduce LBTC to its growing user base by offering BTC staking opportunities. According to the announcement made on November 25, the partnership is expected to strengthen Sui’s DeFi ecosystem by increasing lending, borrowing and trading activities. This initiative aims to leverage Bitcoin’s vast liquidity while driving growth in DeFi adoption on Sui.

The collaboration also includes Cubist, a hardware-backed key management platform that provides low-latency multi-chain signers. Cubist supports over $1 billion in non-custodial Babylon staking and BTC collateral on Lombard.

“Bitcoin’s $1.8 trillion market cap represents tremendous untapped potential,” said Lombard co-founder Jacob Phillips. “Together, we are building a future where Bitcoin holders can fully participate in the next generation of on-chain finance without compromising security or liquidity.”

Launched in 2023, Sui is growing rapidly in the DeFi space. Data from DeFiLlama shows that the network currently has a total value locked of $1.7 billion. Meanwhile, the SUI token surged more than 380% last year, reaching an all-time high of $3.92 on November 17.