Lombard turned the LBTC revenue source to Bitwise's stand-up options strategy

Lombard announced the shift of LBTC ' s revenue source from the Babylon Bitcoin pledge to a reserve-to-view options strategy managed by Bitwise, with a target annualized return of 2.5 per cent at Bitcoin ' s rate. The strategy uses up to 60 per cent of the LBTC reserve assets and the related Bitcoin is hosted by Angelage Digital Bank and Kraken Instituteal. Deployment will be initiated on a pilot basis in the week of 17 August with $10 million, with full deployment of existing LBTC holders scheduled for September without operation。