BOB Raises $9.5M to Expand Hybrid Layer-2 DeFi on Bitcoin
Build on Bitcoin (BOB) has secured $9.5 million in a Series A round, bringing its total funding to $21 million since December 2024. Leading investors include Castle Island Ventures, Ledger, Cathay Capital, RockawayX and Sats Ventures. The hybrid Layer-2 protocol will use the capital to roll out smart contract functionality, liquidity pools and cross-chain bridges, and to launch its testnet this quarter. BOB aims to enable scalable Bitcoin DeFi services—such as on-chain lending, trading and yield farming—accelerating the development of decentralized finance applications on its network. The team plans to expand its engineering staff and strengthen network infrastructure to meet growing demand. This funding round reflects rising investor confidence in Bitcoin DeFi and the hybrid Layer-2 ecosystem, positioning BOB as a leading DeFi solution for Bitcoin.
Bullish
The successful $9.5M Series A round underscores strong investor confidence and provides BOB with resources to launch its testnet, roll out core DeFi features and expand engineering capacity. In the short term, this positive sentiment may attract more developers and institutional interest to the Bitcoin DeFi space, supporting higher demand for BTC as collateral. Over the long term, robust hybrid Layer-2 infrastructure and scalable DeFi services could drive broader Bitcoin network usage, reinforcing bullish momentum for BTC.