Kinza Finance, a DeFi protocol incubated by Binance Labs, has launched its own liquid restaking token, kBTC, which allows Bitcoin holders to stake their BTC while maintaining liquidity.

This innovative approach enables users to receive kBTC, a multichain asset, facilitating their entry into decentralized finance (DeFi) activities.

Bitcoin staking plays a crucial role in the cryptocurrency landscape, unlocking the value of Bitcoin to bolster the security of Proof of Stake (PoS) chains and providing BTC holders with access to DeFi.

Kinza Lending is emerging as a vital infrastructure in DeFi, acting as a liquidity hub for new LRT projects across multiple blockchain networks.

To enhance liquidity for Bitcoin liquid restaking tokens (LRTs), Kinza Finance has integrated with Babylon Protocol, which recently launched its Bitcoin staking mainnet in August 2024.

With securely staked BTC, users can earn rewards and leverage kBTC for various DeFi activities, including lending and borrowing.

Operating on various networks such as BNB, opBNB, Ethereum, and Mantle, Kinza Finance is backed by prominent investors including Binance Labs.

Following a successful fundraising round, Kinza Finance has achieved a valuation of $80 million, with significant contributions from Mirana, Emirates Consortium, and GTS Ventures.