Build on Bitcoin (BOB) Secures $21M in Funding for DeFi Expansion
- BOB has raised a total of $21 million since December, including $9.5 million in its latest funding round.
- Investors such as Castle Island, Anchorage, Amber Group, and sats Ventures participated in the recent funding.
- The network plans to launch the BitVM bridge to enable native Bitcoin usage in DeFi by the end of Q4 2025.
- As of now, BOB’s total value locked (TVL) stands at $212 million, with a DeFi TVL of $132.2 million and over 553,000 users.
- BOB utilizes a hybrid chain model that combines Bitcoin’s security with Ethereum’s DeFi capabilities.
The latest funding will support BOB’s goal of bridging Bitcoin with Ethereum-based decentralized finance (DeFi) protocols without requiring custody or wrapping of assets.
With its recent funding boost and technological advancements like BitVM2, BOB aims to enhance user access to native BTC DeFi applications while maintaining asset control. (Source)
