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BOB Secures €9.5M for Bitcoin DeFi Layer 2 Development

BOB secured €9.5 million in a strategic funding round. New investors include Anchorage, Amber Group, and Sats Ventures, with previous backers also increasing commitments. This funding accelerates BOB's hybrid Layer 2 chain development for Bitcoin DeFi.

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BOB Secures €9.5M for Bitcoin DeFi Layer 2 Development

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.

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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.

Founded in 2024, BOB operates with a distributed team. The company aims to be the easiest and safest place to earn with Bitcoin. Its unique blockchain technology offers an alternative to other Bitcoin Layer 2 solutions like Stacks and Rootstock.

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#Amber Group#Anchorage#Bitcoin#BOB#Castle Island Ventures#DeFi#Funding#Layer 2