BOB announced that the financing amount has reached 21 million USD, with additional investments from institutions such as Castle Island Ventures and Ledger Cathay Capital.

On August 7, BOB (Build on Bitcoin) announced that it has completed multiple rounds of strategic financing since December 2024, with a total financing amount reaching 21 million USD to date. The BOB team disclosed that this financing will be used to accelerate the development of the BOB hybrid public chain architecture and the BitVM protocol, placing the Bitcoin ecosystem at the core of the DeFi world, thereby developing more innovative applications in the Bitcoin ecosystem and unlocking trillions of dollars in liquidity.

BOB recently completed a strategic round of expansion financing of 9.5 million USD, with most investors coming from BOB’s existing investors, including Castle Island Ventures, which led BOB’s initial 10 million USD seed round, as well as Ledger Cathay Capital, RockawayX, Asymmetric, IOSG Ventures, UTXO Management, Daedalus, CMS, Bankless Ventures, Hypersphere, Alliance, and Sigil/Zeeprime. In addition, BOB also received new strategic investments from Amber Group, Sats Ventures, and Anchorage Digital CEO Nathan McCauley, who also participated in BOB’s previous 1.6 million USD angel round financing.

Investors’ additional investment in BOB confirms users’ confidence in BOB’s ability to release trillions of dollars in Bitcoin liquidity and to become the best gateway for Bitcoin DeFi. BOB’s hybrid public chain model has unique inherent advantages, combining the liquidity and security of Bitcoin with the scalability and innovation of Ethereum, making Bitcoin a core pillar of DeFi, aimed at unleashing trillions of dollars in Bitcoin DeFi liquidity.

Alexei Zamyatin, co-founder of BOB and core contributor to BitVM, stated: “We are continuously attracting new partners and many existing investors are doubling down on their investments, which fully demonstrates our team’s efforts to define Bitcoin’s core position in the Decentralized Finance space. With a recent series of product advancements and top-tier partners choosing BOB and supporting its Bitcoin strategy, we are showcasing the potential that BOB’s unique hybrid public chain model can bring, which combines the advantages of Bitcoin and Ethereum, redefining Bitcoin’s position in the Decentralized Finance field.”

As a gateway for Bitcoin DeFi, BOB is committed to becoming the most convenient and secure entry point for earning yields with Bitcoin. Its hybrid public chain model integrates the advantages of both Bitcoin and Ethereum networks, meaning all applications, assets, and transactions are backed by billions of dollars worth of staked Bitcoin. Additionally, BOB creates a bridge for developers and users that is backed by BTC, providing the best entry point for earning Bitcoin yields across multiple public chain systems.

Nic Carter, founding partner of Castle Island Ventures, stated: “We believe in the enormous potential of Bitcoin DeFi and see BitVM as the best way to achieve trustless access to BTC. BOB is currently the only BitVM that enables trustless deposits and achieves Bitcoin finality through staking Bitcoin as a Layer 2. We are excited to make an additional investment to support BOB’s mission of building a Bitcoin DeFi portal.”

Recently, with the support of leading institutions and DeFi protocols such as Lombard, Amber Digital, and RockawayX, BOB has launched native Bitcoin DeFi on its testnet. This development, supported by BOB’s BitVM bridge, will enable native BTC (rather than wrapped BTC) to serve its extensive Bitcoin DeFi ecosystem once it goes live on the mainnet.

In addition, BOB has become the first hybrid zero-knowledge proof (ZK) Rollup project, significantly reducing the costs and improving the efficiency of Optimistic Rollup by utilizing zero-knowledge technology to address fraud disputes. Furthermore, the integration of BOB with Fireblocks provides security for institutional access to Bitcoin Decentralized Finance by combining Fireblocks’ secure wallet infrastructure with BOB’s network.

About BOB (Build on Bitcoin)

BOB is the gateway to Bitcoin DeFi, allowing users to easily and securely earn yields with Bitcoin. BOB’s unique hybrid public chain model combines the advantages of Bitcoin and Ethereum, utilizing hybrid zero-knowledge proofs and billions of dollars in staked Bitcoin to ensure the security of all applications, assets, and transactions in the BOB Level 1 DeFi ecosystem. Accessing native BTC on BOB requires no wrapped BTC or custodianship, supported by the BitVM protocol. Furthermore, with just one click, users can access multi-chain Bitcoin yields and exchange BTC on any chain. To date, BOB has received support from top investment firms such as Castle Island Ventures, Coinbase Ventures, Ledger Cathay Ventures, and IOSG.

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