Bitcoin DeFi Project BOB Raises Another $9.5M to Build BTC DeFi Infrastructure

BOB, a bitcoin (BTC) decentralized finance (DeFi) protocol combining the safety of Bitcoin with Ethereum’s DeFi capabilities, has raised $9.5 million in a strategic funding spherical.

The funding deliver BOB's (“Build on Bitcoin”) whole funds raised to $21 million, following earlier raises in 2024.

The newest increase can be used to fund BOB’s imaginative and prescient of constructing the “Gateway to Bitcoin DeFi” by launching a mainnet BitVM bridge and enabling Bitcoin finality by way of staked BTC later this yr. This will permit customers to bridge BTC from the Bitcoin community and deploy it throughout DeFi protocols on BOB.

Castle Island Ventures, which led BOB’s $10 million seed spherical, additionally contributed to the newest increase, alongside Ledger, RockawayX, IOSG Ventures and Bankless Ventures. Anchorage, Amber Group, and Sats Ventures joined as new buyers, in accordance to an emailed announcement on Thursday.

“By combining BitVM and BTC staking, we’re proving how Bitcoin can secure an entire DeFi ecosystem,” mentioned co-founder Alexei Zamyatin. “A bet on BOB is a bet on Bitcoin DeFi itself.”

The mainnet launch is anticipated by the tip of the yr.