The Lombard App Is Now Live via Ledger Wallet™

The Lombard App is now live via Ledger Wallet™. Ledger's millions of users can deposit Bitcoin, receive yield-bearing LBTC, and hold it in self-custody or use it in DeFi, without leaving the wallet they already use.

This completes what we set out in January. When we launched BTC Yield via Ledger Wallet™, LBTC was the first strategy available, delivered through an app built with Figment. Eight months on, Lombard has become a trusted provider, and launched its own standalone App in Ledger Wallet™. LBTC remains the sole BTC Yield strategy available in Ledger Wallet.

What changes

Lombard is now a trusted App provider inside Ledger Wallet.

For the users already holding LBTC through Lombard via the Figment App, nothing is required. Balances carry over and positions continue without interruption. They can be managed at any time in the new Lombard App.

The Lombard App is available on Ethereum only, more chains may be added over time.

What LBTC does

LBTC is a yield-bearing Bitcoin asset, integrated across 10 chains and 50+ DeFi protocols. LBTC targets a 2.5% APY paid in Bitcoin from an institutional covered-call options strategy managed by Bitwise Investment Manager, LLC.

Three things follow from that design:

• Yield arrives as Bitcoin. Holders end up with more Bitcoin, not a separate reward token to manage or a dollar balance to convert.
• Every LBTC is fully backed. Backing is held in Lombard's Bitcoin reserves and verifiable onchain.
• It stays liquid. LBTC is composable across DeFi and can be deployed elsewhere or held as it grows.

Yield is variable and not guaranteed. Covered-call strategies cap upside and do not protect against a decline in the price of Bitcoin.

Why it matters

With more than 8 million signers sold, Ledger devices secure roughly 30% of the world's Bitcoin held by retail investors. Ledger Wallet™  is built as a secure, connected home for digital value, where people buy, swap, stake and earn with trusted providers. Lombard being one of those providers removes a layer of friction from the single largest pool of self-custodied Bitcoin.

Thank you to the Figment team, who built and ran the integration that got this to market and proved the demand.