BOB Raises $9.5M to Expand Bitcoin DeFi Ecosystem

Key Takeaways

• BOB raises $9.5M in strategic funding, totaling $21.1M in backing.
• Leading VCs including Castle Island Ventures and Anchorage joined⁰ the round.
• The funds will expand BOB’s hybrid Layer 2 Bitcoin DeFi infrastructure.

Strategic Backing Signals Confidence in Bitcoin DeFi

BOB (Build on Bitcoin), a Bitcoin DeFi project, has just completed a $9.5 million strategic funding round, making the total amount of money raised $21.1 million. Between the current round and the previous one, the backers who supported the new round are Castle Island Ventures, Ledger Cathay Fund, RockawayX, and UTXO Management along with new ones – Anchorage, Amber Group, and Sats Ventures. Nic Carter of Castle Island Ventures lauded BOB for the decisiveness of their innovation when they announced their BitVM utilization to facilitate the trustless BTC deposits and the staked⁶ Bitcoin security for DeFi transactions.

BOB raises $9.5 million in latest strategic funding round to expand Bitcoin DeFi https://t.co/sWES9iqvDj

— The Block (@TheBlock__) August 7, 2025

Unlocking Bitcoin’s Role in Multi-Chain DeFi

BOB will spend the new funds to improve its Hybrid Chain, mixing the best features of Bitcoin and Ethereum to offer BTC-secured bridges and DeFi services.In the testnet that BOB has released, it allows native BTC through a BitVM bridge.

Although it is at a very early stage, BOB has decided^j to serve as a future-oriented Layer 2 for Bitcoin, whereby BTC holders can still get yield and multi-chain access, but decentralization principles are not compromised.

Summary

The recent funding round of $9.5M by BOB signals the confidence of the market in Bitcoin DeFi. BOB plans to use BitVM tech and a hybrid chain model to facilitate the possible BTC’s utility that can go across DeFi networks.

Also Read: China Warns Iris-Scanning Crypto Threatens Security

1Q7AHRU9