Bitcoin as loan collateral isn't just a DeFi experiment anymore—it's institutional treasury strategy.

Lucas Schweiger from Sygnum breaks down how BTC lending evolved:

→ LTV ratios: 40-60% (conservative, institutional-grade)

→ Collateral segregation: strict custody protocols

→ Use case shift: from yield farming to balance sheet optimization

BTC is becoming a productive credit asset for corporates holding it on their books. This is how treasuries unlock liquidity without selling.

The narrative is changing: BTC isn't just a store of value—it's working capital.