BTC.b is a non-yield Bitcoin asset that maintains a strict 1:1 exchange rate with BTC at all times. Originally developed by Ava Labs in 2022 and acquired by Lombard in October 2025, it has since expanded into a multi-chain Bitcoin standard with all existing integrations and user balances preserved. BTC.b is designed for users who need straightforward Bitcoin representation without a yield component, making it well-suited for trading, short-term collateral, and applications where predictable pricing is the priority.