Jacob Phillips is the co-founder of Lombard Finance, a financial technology company specializing in blockchain-based liquidity solutions for Bitcoin. His career spans roles in traditional finance, cryptocurrency investment, and decentralized finance (DeFi). ^{[2] [3]}

Education

Phillips holds a Bachelor's degree in Economics and Computer Science from the Case Western Reserve University (2015–2019), which included a professional placement year. ^{[2] [3]}

Career

Phillips’ career began during his studies with the founding of Cicero Capital LLC (December 2015 – December 2017), a student-run mock hedge fund involving members from three universities. The initiative focused on simulated investments, including positions in sectors such as oil exploration and production, which served as a basis for later involvement in decentralized finance.

He subsequently held internships at KeyBanc Capital Markets (May–August 2017) in Debt Capital Markets and Modern Woodmen of America (June–August 2016), where he analyzed a $6 billion corporate bond portfolio. Additional early roles included research positions at New Heights Research (September–December 2016) and Rothschild & Co (May–August 2018), where he contributed to equity and debt advisory projects.

In 2018, Phillips transitioned into blockchain and venture capital. He worked as a Venture Analyst at Flashstarts, Inc. (September 2018 – May 2019), an accelerator supporting early-stage blockchain ventures. Later, as a Summer Analyst at Limitless Crypto Investments (June–August 2019), he focused on infrastructure projects within cryptocurrency venture capital.

From December 2019 to September 2022, Phillips held multiple roles at Polychain Capital, beginning as a Research Intern and advancing to Partner and Investor. His work included evaluating blockchain protocols and decentralized finance (DeFi) projects.

In October 2022, he joined Perennial Labs as Head of Product & Strategy, contributing to the development of decentralized perpetual trading protocols until May 2024.

Phillips co-founded Lombard Finance in April 2024, where he focuses on integrating Bitcoin into decentralized finance. The platform allows Bitcoin holders to use their holdings as collateral without requiring wrapped tokens, addressing counterparty risks in cross-chain transactions.

Phillips serves as an advisor to Ora Protocol, a decentralized oracle network. He has participated in industry discussions, including a 2023 appearance on Blockcast, where he addressed technical and regulatory developments in Bitcoin DeFi. ^{[1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11]}

Interviews

Staking Rewards Podcast #01

In a February 2025 interview on the Staking Rewards podcast hosted by Mirle, Jacob Phillips discussed the evolving role of Bitcoin in decentralized finance (DeFi). Phillips highlighted the growing adoption of Bitcoin liquid staking platforms, such as Babylon, which aim to integrate Bitcoin into yield-generating protocols. According to Phillips, Bitcoin’s historical underutilization in DeFi presents opportunities for innovation, particularly in enabling holders to use Bitcoin as collateral without relying on custodial intermediaries.

He emphasized the importance of prioritizing technical risk mitigation over credit risk models to attract institutional participation, citing Lombard’s decentralized validator framework (the Lombard Ledger) as a mechanism to balance security with user autonomy. Phillips noted that Lombard’s collaboration with Babylon seeks to address fragmented liquidity while maintaining Bitcoin’s non-custodial principles. When asked about adoption metrics, he referenced Lombard’s milestone of 23,000 BTC staked as indicative of demand for Bitcoin-native DeFi solutions.

Phillips concluded by reiterating his view that Bitcoin’s future in finance hinges on decentralized, trust-minimized systems that preserve its core properties while expanding its utility beyond passive storage. ^[12]

The Index Podcast #02

In a January 2025 interview on The Index hosted by Alex Kahaya, Jacob Phillips detailed Lombard’s approach to integrating Bitcoin into decentralized finance (DeFi). Phillips recounted his transition from traditional finance and politics to cryptocurrency, citing blockchain’s potential to create systemic financial change. According to Phillips, his work at Polychain Capital informed his focus on Bitcoin’s underutilized role in DeFi, leading to the creation of Lombard.

He outlined Lombard’s objective to enable Bitcoin holders to stake their assets while retaining liquidity through Babylon, a protocol leveraging timestamping mechanisms and slashing conditions to enforce non-custodial staking. Phillips emphasized that liquid Bitcoin tokens (LBTC) could facilitate cross-chain transactions, particularly on networks like Solana, while preserving Bitcoin’s security.

When discussing adoption, Phillips stressed the need for user-friendly interfaces to attract non-technical users, noting that simplified protocols could bridge gaps between traditional finance and DeFi. He also highlighted Lombard’s semi-non-custodial model, which balances decentralized oversight with institutional-grade security requirements.

Phillips concluded by reiterating his belief that Bitcoin’s programmable capabilities, combined with decentralized infrastructure, position it as a cornerstone for trust-minimized financial systems. ^[13]