Globally renowned encryption exchange Kraken announced its entry into the Lombard Security Alliance, becoming the 15th institutional validator protecting the LBTC protocol.

On September 22, 2025, Lombard, a leading on-chain Bitcoin Capital Market acceleration platform, and the LBTC issuer announced that Kraken, one of the oldest and safest Crypto Assets exchanges in the world, has joined its security alliance. This strategic partnership expands Lombard's trusted validators network, responsible for protecting the protocol's operations and maintaining institutional-grade standards.

The addition of Kraken marks another significant milestone for Lombard in strengthening the decentralized validation network and solidifying institutional-grade security that powers the Lombard protocol and LBTC assets. The Lombard Security Alliance not only adds another validator but also supports the foundation for the next stage of Bitcoin adoption. Each new member of the Security Alliance brings additional security, expertise, and credibility to Lombard's network.

It is reported that the Lombard Security Alliance brings together the most trusted institutions in the digital asset space: OKX, Galaxy, DCG, Wintermute, Figment, Kiln, Antpool, F2Pool, and the latest addition, Kraken. Members of the Lombard Security Alliance are responsible for verifying Bitcoin deposits and authorizing LBTC issuance and redemption, facilitating staking transactions through the Babylon ecosystem, managing secure cross-chain bridging with additional Chainlink CCIP protection measures, governing protocol upgrades, overseeing BSN reward distribution, and maintaining verifiable and tamper-proof records of all activities. The multi-party consensus model ensures that no single entity can unilaterally perform critical operations, eliminating single points of failure while maintaining the operational efficiency required by institutional users.

“Kraken's participation in our security alliance represents a significant recognition of our approach to bringing Bitcoin on-chain through institutional-grade Bitcoin assets and solutions,” said Jacob Phillips, co-founder of Lombard Finance. “Their mature track record in secure crypto assets operations and trusted reputation among institutional clients perfectly aligns with our mission to provide secure and transparent Bitcoin yield opportunities. This is the first step in our long journey of co-creating a safer blockchain ecosystem, and Lombard looks forward to supporting Kraken in its blockchain endeavors.”

About Kraken

Kraken is a technology platform built on the foundation of encryption technology, dedicated to unlocking access and reducing inefficiencies, driving financial freedom in the crypto economy and beyond. Millions of individual users, professional traders, and institutions around the world use Kraken to trade digital and traditional assets, including crypto assets, fiat currencies, U.S. futures, and U.S.-listed stocks and ETFs. The Kraken market can be monitored and traded through the web or the Kraken and Kraken Pro iOS and Android applications.

About Lombard Finance

Lombard is building an on-chain Bitcoin Capital Market to unlock the full potential of the most important assets of our generation. Founded in 2024, Lombard pioneered the integration of Bitcoin with DeFi, launching LBTC – a leading yield-bearing Bitcoin asset backed by a coalition of 15 digital asset institutions. LBTC surpassed $1 billion in TVL in just 92 days, becoming the first Bitcoin LST to earn the trust of blue-chip protocols such as Aave, Spark, and EigenLayer. Today, Lombard is developing a full-stack infrastructure to accelerate the adoption of on-chain BTC by holders, protocols, and platforms, supported by leaders in digital assets including top DeFi protocols, institutions, and exchanges.