Decentralized finance innovator BIMA and Bitcoin layer-2 banking network exSat have announced a strategic partnership aimed at expanding Bitcoin’s role in the DeFi space. The collaboration, revealed on May 28, 2025 at the Bitcoin Conference in Las Vegas, begins with the deployment of 1,000 BTC—approximately $100 million—with plans to scale up to 5,000 BTC ($500 million).
USBD: A Capital-Efficient Bitcoin Stablecoin Takes Center Stage
Central to BIMA’s DeFi offering is USBD, a Bitcoin-derivative-backed and over-collateralized stablecoin launched during BIMA’s recent mainnet rollout. USBD enables users to earn yield and participate in DeFi without having to sell their Bitcoin, offering a more efficient and strategic use of BTC holdings.
Sid Sridhar, CEO of BIMA, explained the vision:
“We’re building the infrastructure for Bitcoin to become a fully productive asset. Our partnership with exSat is about activating Bitcoin’s untapped financial potential in both DeFi and CeFi ecosystems.”
exSat to Integrate esBTC and iBTC into BIMA Products
As part of the agreement, exSat will deploy its native tokens—esBTC and iBTC—into BIMA’s structured products and vaults, further enhancing yield and liquidity options for users. BIMA, in turn, becomes exSat’s official stablecoin partner.
“This partnership is key to building a sovereign Bitcoin banking layer,” said exSat founder Yves La Rose. “Borrowing USBD against Bitcoin allows users to stay in their position while accessing powerful yield strategies.”
Bridging Bitcoin to On-Chain Yield
Together, BIMA and exSat aim to give institutional and retail Bitcoin holders permissionless access to yield generation tools, effectively bridging the gap between Bitcoin’s store-of-value identity and the programmable possibilities of decentralized finance.
