Bitcoin DeFi Project #BOB Raises $9.5M to Advance #Hybrid Chain Development

Bitcoin #DeFi protocol BOB (Build on $BITCOIN ) has secured $9.5 million in a new strategic funding round, bringing its total capital raised to $21.1 million. The announcement, shared Thursday, underscores growing institutional confidence in Bitcoin-native decentralized finance.

The round included renewed backing from Castle Island Ventures — which led BOB’s original $10 million seed round — alongside returning investors such as #Ledger Cathay Fund, RockawayX, Asymmetric, IOSG Ventures, UTXO Management, Daedalus, CMS, Bankless Ventures, Hypersphere, Alliance, and Sigil/Zeeprime.

New participants in the latest raise include Anchorage, Amber Group, and Sats Ventures. BOB previously secured a $1.6 million angel round, though no updated valuation was disclosed following the latest round.

Castle Island Doubles Down on BitVM and Bitcoin DeFi

“We believe in the enormous potential of Bitcoin DeFi and see BitVM as the best path forward for trustless BTC deposits and withdrawals,” said Nic Carter, Founding Partner at Castle Island Ventures. “BOB is the only Layer 2 implementing both #BitVM for trustless deposits and Bitcoin finality via staked BTC. We're excited to increase our investment and support $BOB 's mission.”