BOB Secures $21 Million Funding, Announces Token Sale to Propel Bitcoin DeFi Growth

BOB (Build on Bitcoin), a hybrid Layer 2 network, has successfully raised $21 million in strategic funding rounds, aiming to unlock the vast utility of Bitcoin within the decentralized finance (DeFi) ecosystem. The company also recently announced the upcoming launch of its native $BOB token and a community sale, further signaling its intent to revolutionize how Bitcoin interacts with DeFi.

The platform positions itself as the "Gateway to Bitcoin DeFi," as stated in a recent tweet by BOB, with a mission to enable "native BTC yield accessible from any chain." This initiative seeks to bridge the significant gap where only 0.3% of Bitcoin's market capitalization is currently utilized in DeFi, compared to Ethereum's approximately 30%. BOB's hybrid chain model combines Bitcoin's robust security with the smart contract capabilities of Ethereum's EVM.

A significant portion of the funding, $9.5 million, was secured in a strategic round in August 2025, with key investors including Castle Island Ventures, Ledger, RockawayX, IOSG Ventures, and Bankless Ventures. New investors such as Anchorage, Amber Group, and Sats Ventures also participated. This capital infusion is earmarked to accelerate the development of BOB's infrastructure and expand its ecosystem integrations.

Further bolstering its institutional appeal, BOB announced a partnership with Anchorage Digital in November 2025. This collaboration provides institutional-grade custody services, offering a regulated pathway for institutions to participate in Bitcoin DeFi through BOB's platform. The move comes as the total value locked in Bitcoin DeFi has surged to over $8 billion in the past 18 months, highlighting growing interest in the sector.

BOB leverages BitVM technology for trustless Bitcoin deposits and withdrawals, ensuring that BTC on its network remains native and unsecured by third parties. Co-founder Alexei Zamyatin emphasized that the platform intends to be the "easiest and safest place to earn with your Bitcoin." The upcoming $BOB token sale, with a presale scheduled on CoinList from November 10-13, aims to further decentralize the ecosystem and empower its community.