BOB, a bitcoin (BTC) decentralized finance (DeFi) protocol that merges Bitcoin’s security with Ethereum’s DeFi capabilities, has successfully raised $9.5 million in a strategic funding round.
This investment brings BOB’s total fundraising to $21 million, following previous raises in 2024.
The funds will support BOB’s goal of creating the “Gateway to Bitcoin DeFi” by launching a mainnet BitVM bridge and enabling Bitcoin finality through staked BTC later this year. This will allow users to bridge BTC from the Bitcoin network and utilize it across DeFi protocols on BOB.
Castle Island Ventures, which led BOB’s $10 million seed round, also participated in this latest funding, joined by Ledger, RockawayX, IOSG Ventures, and Bankless Ventures. Anchorage, Amber Group, and Sats Ventures came on board as new investors, according to a statement on Thursday.
“By combining BitVM and BTC staking, we’re proving how Bitcoin can secure an entire DeFi ecosystem,” stated co-founder Alexei Zamyatin. “A bet on BOB is a bet on Bitcoin DeFi itself.”
The mainnet launch is anticipated by the end of the year.
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