Bitcoin DeFi Project BOB Raises $9.5M to Expand BTC DeFi
BOB, a Bitcoin-focused DeFi project blending Bitcoin’s security with Ethereum-style decentralized finance, has successfully raised an additional $9.5 million.
- The total funds raised now stand at $21 million, including previous rounds from 2024.
- The new capital will support the launch of BOB’s mainnet BitVM bridge and BTC staking capabilities.
- Castle Island Ventures and other previous investors participated alongside new backers like Anchorage and Amber Group.
- Mainnet launch is anticipated by the end of 2025, aiming to enable Bitcoin DeFi interoperability.
BOB, short for “Build on Bitcoin,” is developing a DeFi protocol that merges Bitcoin’s unmatched security with the advanced DeFi functionalities familiar on Ethereum. Their vision is to create the “Gateway to Bitcoin DeFi” by launching a BitVM bridge on mainnet later this year. This bridge will enable users to move BTC from the Bitcoin network and utilize it across decentralized finance applications built on BOB’s platform.
The project has now raised a total of $21 million after closing a new $9.5 million funding round. Investors from earlier rounds, including Castle Island Ventures, Ledger, RockawayX, IOSG Ventures, and Bankless Ventures, continued to support BOB. New investors, including Anchorage, Amber Group, and Sats Ventures, also joined, reflecting growing confidence in Bitcoin-native DeFi.
Co-founder Alexei Zamyatin emphasized that by integrating BitVM and BTC staking, BOB is showcasing how Bitcoin can underpin a full DeFi ecosystem, stating, “A bet on BOB is a bet on Bitcoin DeFi itself.” The mainnet launch, scheduled by year-end, will mark a significant milestone toward expanding Bitcoin’s role in decentralized finance beyond simple transactions.
Final Thought
BOB’s progress underscores a rising wave of innovation aimed at unlocking Bitcoin’s DeFi potential, bridging the gap between Bitcoin’s security and Ethereum’s programmability. This infrastructure could catalyze new opportunities in Bitcoin-native financial products and solidify BTC’s position in the broader decentralized finance landscape.
