BOB’s hybrid Layer 2 chain aims to make Bitcoin truly interoperable in DeFi, backed by a total €18M in funding.
British crypto infrastructure startup BOB has raised a €8.1 million strategic round to bring native Bitcoin into decentralized finance (DeFi) — without wrapping, custodians, or compromising on trustlessness. The new funding brings BOB’s total capital raised to €18 million since its founding in 2024.
BOB is building a hybrid Layer 2 chain that combines the security and liquidity of Bitcoin with the programmability and developer ecosystem of Ethereum. The project has quietly developed through 2024, and is now preparing to launch its mainnet — and its public presence.
The round attracted notable new backers including Anchorage, Amber Group, and Sats Ventures, and saw expanded commitments from existing investors such as Castle Island Ventures, Ledger, RockawayX, Asymmetric, and IOSG Ventures, among others. Castle Island led BOB’s earlier €8.6M seed round.
“We’re redefining what’s possible by combining the strengths of Bitcoin and Ethereum,” said Alexei Zamyatin, BOB’s co-founder and BitVM core contributor. “That so many original investors are doubling down shows confidence in our Hybrid model and in Bitcoin’s evolving role in DeFi.”
A Native BTC Yield Platform Without Wrapping
At its core, BOB is building a Bitcoin-secured DeFi ecosystem where users can earn yield on their native BTC — no wrapped tokens, no centralized custody. Using BitVM, a novel trustless bridge protocol, BOB allows native BTC to interact directly with DeFi protocols.
The startup recently launched native Bitcoin DeFi on its testnet in collaboration with early ecosystem partners like Lombard, Amber Digital, and RockawayX. Once the mainnet is live, these partners will offer DeFi services secured directly by staked BTC — not synthetic versions.
BOB also claims to be the first hybrid ZK rollup, combining the efficiency of zero-knowledge proofs with the flexibility of optimistic rollups, significantly reducing costs for developers.
Building the Gateway to Bitcoin DeFi
BOB’s vision is to become the easiest and safest place to earn with Bitcoin. The company is building BTC-secured bridges to Ethereum and other chains, expanding Bitcoin’s usability without compromising on decentralization. A recent integration with Fireblocks further positions BOB to support institutional adoption by offering secure custody alongside advanced DeFi features.
“BOB is the only Layer 2 implementing both BitVM for trustless deposits and Bitcoin finality for Bitcoin-secured transactions,” said Nic Carter, founding partner at Castle Island Ventures. “We believe this is the best path forward for Bitcoin in DeFi.”
With its mainnet launch on the horizon and institutional momentum building, BOB is now stepping out of stealth. The team — currently distributed across Europe and North America — plans to scale ecosystem integrations and finalize infrastructure in the coming months.
BOB is shaping up to be one of the most ambitious attempts yet to make Bitcoin a true player in the decentralized finance space — not just as collateral, but as a fully active asset.
