The Bitcoin DeFi project BOB has raised an additional 9.5 million Dollars for infrastructure development | CoinDesk JAPAN

• BOB, a Bitcoin DeFi protocol that combines the security of Bitcoin and the DeFi features of Ethereum, has raised $9.5 million in a strategic funding round.
• This funding will be used to realize BOB's vision of launching the mainnet BitVM bridge in the second half of this year and building a "gateway to Bitcoin DeFi."
• Castle Island Ventures, which led BOB's $10 million seed round, also contributed to this fundraising along with Leisure, RockawayX, IOSG Ventures, and Bankless Ventures.

The BOB (Build on Bitcoin) is a Bitcoin DeFi protocol that combines the security of Bitcoin and the decentralized finance (DeFi) features of Ethereum, having raised $9.5 million in a strategic funding round.

With this funding round, BOB's total amount raised has reached 21 million Dollars (approximately 3 billion 450 million Yen) when combined with the funding in 2024.

The funds raised this time will be used to realize BOB's vision of building a "gateway to Bitcoin DeFi" by launching the mainnet BitVM bridge in the second half of this year and achieving Bitcoin finality through staked Bitcoin (BTC). As a result, users will be able to bridge BTC from the Bitcoin network and deploy it on the DeFi protocol on BOB.

Castle Island Ventures, which led BOB's $10 million (approximately 1.45 billion yen) seed round, contributed to this funding round along with Ledger, RockawayX, IOSG Ventures, and Bankless Ventures. According to an announcement made via email on August 7, Anchorage, Amber Group, and Sats Ventures have joined as new investors.

"By combining BitVM and BTC staking, we are proving that Bitcoin can securely protect the entire DeFi ecosystem," said co-founder Alexei Zamyatin. "Betting on BOB is a bet on Bitcoin DeFi itself."

The mainnet launch is scheduled for the end of the year.

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