In a world where the sun shines a little too brightly on the glimmering Las Vegas Strip, BIMA, a decentralized finance protocol, has decided to throw caution to the wind and partner with exSat, a Bitcoin banking provider and layer-2 network. Together, they aim to accelerate the adoption of Bitcoin-based DeFi, because who wouldn’t want to gamble with their digital assets? 🎰
On May 28, 2025, amidst the cacophony of the high-profile Bitcoin (BTC) conference, these two titans of finance announced their strategic partnership. With an initial deployment of a whopping $100 million in BTC, they set forth on a quest to bolster Bitcoin’s decentralized finance ecosystem. Talk about a high-stakes game! 💰
But wait, there’s more! The growth plan is as ambitious as a Vegas showgirl’s costume, scaling this deployment from 1,000 BTC to over 5,000 BTC, worth a staggering $500 million. Who knew Bitcoin could be so… generous?
BTC-backed stability, now in Vegas ⚡
— BIMA (@BimaBTC) May 28, 2025
Following BIMA’s recent mainnet launch, they introduced USBD, a Bitcoin derivative-backed and over-collateralized stablecoin. Designed for capital efficiency, USBD allows users to engage in yield strategies while still holding onto their precious BTC. Because why sell when you can just play the field? 🤑
BIMA’s mission is clear: deliver the benefits of DeFi to Bitcoin holders, offering institutional-grade access to yield without the need to part with their beloved BTC. Both decentralized and centralized finance participants can leverage USBD’s structure to unlock on-chain yield and stability. It’s like a buffet where you can eat your cake and have it too! 🎂
“This partnership with exSat marks a major step towards mobilizing Bitcoin as a productive asset in DeFi,” said Sid Sridhar, founder and chief executive officer of BIMA. “exSat, a Bitcoin banking service provider, is building the financial rails for a programmable Bitcoin economy – one where holders can earn, stake, and participate in on-chain yield strategies without ever leaving the Bitcoin standard. BIMA provides the infrastructure to help realize that vision, enabling capital-efficient, secure deployment of USBD across both DeFi and CeFi ecosystems.”
As part of this collaboration, BIMA becomes the official stablecoin partner of exSat, which will deploy its native assets, including esBTC and iBTC, into BIMA vaults and structured products. It’s like a financial marriage made in crypto heaven! 💍
exSat founder Yves La Rose, commenting on the partnership and what it means for the ecosystem, noted:
“exSat is laying the groundwork for a sovereign Bitcoin banking layer, and this collaboration with BIMA brings us one step closer. By enabling users to borrow USBD against their Bitcoin and access permissionless yield strategies, we’re expanding Bitcoin’s utility without requiring users to exit their positions.”
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2025-05-28 22:25