Lombard, in a fit of financial ingenuity, has unveiled its Bitcoin Smart Accounts, a contrivance designed to persuade the credulous that one may dip one’s toe into the murky waters of decentralized finance (DeFi) without so much as disturbing the custody of one’s BTC. How delightfully preposterous!
With a flourish of self-importance, Lombard announces its Bitcoin Smart Accounts, a mechanism so ingenious it allows BTC ensconced in the most qualified of custodies-be it multi‑party computation (MPC) or the quaint self‑custody-to serve as onchain collateral across a select list of protocols, such as the lending network Morpho. And yet, mirabile dictu, the legal title and custody remain as unmoved as a country house in the shires. Pilots, we are assured, are already underway with a chosen few custodians, and the great unwashed may expect public availability by Q1 2026. How very kind of them.
This marvel of modern finance, we are told, preserves the integrity of custody-no transfer of title, no rehypothecation, heavens no!-and issues a receipt token (BTC.b) to facilitate borrowing, yield, and real‑time position management. Lombard, with a straight face, proclaims that this custody‑agnostic rail could unlock access to hundreds of billions of dollars of custodied bitcoin, and plans to expand its custodians and protocols through 2026. How ambitious, how very, very ambitious.
🧭 FAQs
• What are these Bitcoin Smart Accounts, and where might one find them? These Bitcoin Smart Accounts, a marvel of modern finance, allow institutional BTC held in the most qualified of custodies or self‑custody to access DeFi, currently piloting with a select few custodians globally. How exclusive!
• How does Lombard preserve custody for its local clients? The BTC never leaves the holder’s custody, and full legal title and beneficial ownership remain as intact as a maiden aunt’s reputation in the client’s custody jurisdiction. How reassuring!
• Which onchain infrastructure partners deign to support this service? Lombard integrates the lending infrastructure Morpho and plans broader protocol and custodian partnerships across jurisdictions. How expansive!
• When may institutions in local markets access these Bitcoin Smart Accounts? These Bitcoin Smart Accounts are in pilot now, with public availability expected in Q1 2026, subject to custodian onboarding and jurisdictional requirements. How very bureaucratic!
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2026-02-12 14:17