ExSat Teams Up with BIMA to Boost Bitcoin DeFi Adoption
On May 28, 2025, at a major Bitcoin conference in Las Vegas, BIMA and exSat joined forces to promote Bitcoin-backed DeFi. BIMA, a decentralized finance (DeFi) platform, and exSat, a Bitcoin banking provider, aim to accelerate the use of Bitcoin in DeFi.
They are kickstarting this initiative with an initial investment of $100 million in BTC. The plan is to scale this up to $500 million in BTC by ramping up the deployment from 1,000 BTC to over 5,000 BTC.
BIMA recently launched its mainnet, unveiling USBD—a stablecoin backed by over-collateralized Bitcoin derivatives. USBD lets users participate in yield strategies while keeping thier BTC intact.
The partnership is significant as it enables Bitcoin holders to benefit from DeFi without selling their coins. It also supports both decentralized and centralized finance systems.
- BIMA is now the official stablecoin partner of exSat.
- ExSat will use its native assets, like esBTC and iBTC, in BIMA’s vaults and products.
Sid Sridhar, BIMA’s CEO, stated, “Partnering with exSat allows Bitcoin to shine as a productive asset in DeFi.”
Yves La Rose, exSat’s founder, added, “This collaboration expands Bitcoin’s utility with permissionless yield strategies, keeping users’ BTC holdings intact.”
