BIMA Partners with exSat to Accelerate Bitcoin-Based DeFi Adoption
BIMA, a decentralized finance protocol focused on Bitcoin-backed stablecoins and yield strategies, has announced a strategic partnership with exSat, a Bitcoin banking provider and layer-2 network, to drive the adoption of Bitcoin-based DeFi.
The partnership, unveiled during the Bitcoin conference in Las Vegas on May 28, 2025, kicks off with an initial deployment of $100 million in BTC by the two platforms. This deployment is set to grow from 1,000 BTC to over 5,000 BTC, totaling $500 million.
Following the recent mainnet launch, BIMA introduced USBD, a Bitcoin derivative-backed stablecoin that is over-collateralized. USBD is designed to provide capital efficiency, allowing users to participate in yield strategies while maintaining exposure to Bitcoin’s price appreciation.
BIMA’s goal is to bring the benefits of DeFi to Bitcoin holders, offering institutional-grade access to yield opportunities without the need to sell their BTC. Both decentralized and centralized finance participants can utilize USBD to unlock on-chain yield and stability.
“This partnership with exSat is a significant step towards harnessing Bitcoin as a productive asset in DeFi,” said Sid Sridhar, founder and CEO of BIMA. “exSat is paving the way for a programmable Bitcoin economy where users can earn, stake, and engage in on-chain yield strategies seamlessly within the Bitcoin ecosystem. BIMA provides the infrastructure to realize this vision, facilitating the secure deployment of USBD across DeFi and CeFi platforms.”
As part of the collaboration, BIMA is designated as the official stablecoin partner of exSat. In return, exSat will deploy its native assets, including esBTC and iBTC, into BIMA vaults and structured products.
Yves La Rose, founder of exSat, commented on the partnership and its significance for the ecosystem:
“exSat is establishing a sovereign Bitcoin banking layer, and this partnership with BIMA brings us closer to that goal. By allowing users to borrow USBD against their Bitcoin holdings and access decentralized yield strategies, we are expanding the utility of Bitcoin without requiring users to liquidate their positions.”