BIMA and exSat partner to expand BTC-backed DeFi

BIMA, a decentralized finance protocol focused on Bitcoin-backed stablecoins and yield strategies, has partnered with exSat, a Bitcoin banking provider and layer-2 network, to help accelerate the adoption of Bitcoin-based DeFi.

The two platforms announced their strategic partnership on May 28, 2025 amid the high-profile Bitcoin (BTC) conference in Las Vegas, BIMA and exSat’s quest to bolster Bitcoin’s decentralized finance ecosystem begins with an initial deployment of $100 million in BTC.

Growth will see the platforms scale this deployment from 1,000 BTC to over 5,000 BTC worth $500 million.

The partnership follows BIMA’s recent mainnet launch, during which it introduced USBD, a Bitcoin derivative-backed and over-collateralized stablecoin. USBD is designed for capital efficiency, enabling users to engage in yield strategies while retaining exposure to BTC’s upside.

BIMA aims to deliver the benefits of DeFi to Bitcoin holders, offering institutional-grade access to yield—without requiring users to sell their BTC. Both decentralized and centralized finance participants can leverage USBD’s structure to unlock on-chain yield and stability.

“This partnership with exSat marks a major step towards mobilizing Bitcoin as a productive asset in DeFi,” said Sid Sridhar, founder and chief executive officer of Bima. “exSat, a Bitcoin banking service provider, is building the financial rails for a programmable Bitcoin economy – one where holders can earn, stake, and participate in on-chain yield strategies without ever leaving the Bitcoin standard. Bima provides the infrastructure to help realize that vision, enabling capital-efficient, secure deployment of USBD across both DeFi and CeFi ecosystems.”

As part of the collaboration, BIMA becomes the official stablecoin partner of exSat, which will in turn deploy its native assets, including esBTC and iBTC into BIMA vaults and structured products.

exSat founder Yves La Rose, commenting on the partnership and what it means for the ecosystem, noted:

“exSat is laying the groundwork for a sovereign Bitcoin banking layer, and this collaboration with BIMA brings us one step closer. By enabling users to borrow USBD against their Bitcoin and access permissionless yield strategies, we’re expanding Bitcoin’s utility without requiring users to exit their positions.”