Lombard: Bitcoin Capital Markets Onchain

Bitcoin Smart Accounts

The first rail between institutional custody and onchain finance.

Bringing Onchain Utility to Institutional Custody

For 17 years, institutions could have either the security of top custodians or onchain utility—never both. Bitcoin Smart Accounts change that. They recognize custodial Bitcoin as collateral, transforming Bitcoin from a passive asset into usable onchain capital without asset movement, bridge risk, or exiting custody.

Three Guarantees

Bitcoin Smart Accounts are the first rail between institutional custody and onchain finance.

Bitcoin never leaves custody. It remains in the existing custody set-up (self-custody wallet or with your qualified custodian), so security, insurance, and regulatory protections are maintained.

Bitcoin remains in the existing custody set-up, so security, insurance, and regulatory protections are maintained.

Full legal title and beneficial ownership are unchanged, with complete asset isolation per account.

Access onchain yields and liquidity from leading whitelisted DeFi protocols.

Bitcoin Smart Accounts rely upon foundational technologies

Trust What's Trusted

Bitcoin's 17-year consensus history

Partially Signed Bitcoin Transactions, Taproot scripts and time locks form emulated covenants.

Institutional Custody

Custodians participate in the validation of Bitcoin locks through a Trusted Execution Environment based arbitration system.

Smart contracts

EVM based smart contracts enabling DeFi platform connectivity.

Lombard

A decentralized network of 15 institutions has securely validated $5billion BTC transactions over 18 months.

Who This Is For

Built for Institutional Bitcoin

HNWI

Seeking liquidity and yield from onchain markets.

Treasuries

Seeking liquidity for working capital, without selling BTC, tax events, or exiting custody.

Asset Managers

Seeking yield without changing custody arrangements, operational workflows, or risk parameters.

See it in action

Example Use Case

Without Bitcoin Smart Accounts

If a corporate treasury held BTC with a qualified custodian and sought liquidity against it, they had three unattractive options:

1. Exit custody — Lose institutional insurance and introduce bridge and smart contract risk.

2. Use an OTC lender — Borrow at 8-12%, accept opaque terms and hidden spreads.

3. Sell Bitcoin — Triggering a tax event and lose upside potential.

With Bitcoin Smart Accounts

A corporate treasury holding BTC can now deploy those assets onchain to earn yield, borrow stablecoins, and much more.

1. Remain in custody — BTC remains in the existing custody set-up (self-custody wallet, MPC, qualified custodian) maintaining the same security and protections.

2. Use onchain lenders — Borrow at 4-5%, adjust collateral and repay at any time without any third party approval.

3. Maintain BTC balance — Avoid selling Bitcoin and triggering tax events, and maintain exposure to upside potential.

Ready to put your Bitcoin to work?

Bitcoin Smart Accounts are live in pilot with select private clients. Public availability: Q1 2026.

Press Release