Berlin-based crypto infrastructure startup BOB secured €9.5 million in a strategic funding round. New investors include Anchorage, Amber Group, and Sats Ventures. Previous backers like Castle Island Ventures also increased their commitments.
This funding accelerates BOB's hybrid Layer 2 chain development. The chain enables users to earn yield on native BTC without custodians or wrapped tokens. It combines the strengths of Bitcoin and Ethereum networks.
Advancing Bitcoin DeFi Infrastructure
BOB's hybrid chain secures applications and transactions with staked BTC. Additionally, it operates BTC-secured bridges to Ethereum and other chains. This provides a gateway to earn yield on Bitcoin across multiple networks.
The company recently launched native Bitcoin DeFi on its testnet.
Furthermore, BOB became the first hybrid ZK rollup. This dramatically reduces costs and increases efficiency for optimistic rollups. Integration with Fireblocks also enhances institutional access to decentralized finance.