Build on Bitcoin (BOB), a Layer-2 blockchain project aiming to bring native Bitcoin into decentralized finance, has now raised $21 million in strategic funding since late 2024. The most recent $9.5 million round saw continued backing from existing investors like Castle Island and new participation from Anchorage, Amber Group, and sats Ventures.
“We continue to believe that Bitcoin will be the bedrock of DeFi, and we think BOB will be a marquee L2,” said Nic Carter, founding partner at Castle Island.
The funding will help BOB accelerate its mission to build native BTC DeFi applications, launch new infrastructure, and expand institutional support.
BOB’s next milestone is the production launch of the BitVM bridge, designed to enable native BTC to be used in DeFi, and facilitate secure Bitcoin transfers across Ethereum, Solana, Sui, and other smart contract ecosystems.
“Users, institutions, apps, and wallets everywhere will be able to access native BTC DeFi via BOB,” said Dominik Harz, BOB’s CTO.
The protocol also plans to roll out BTC-staked finality by the end of 2025, with full mainnet deployment scheduled for Q4 2025. Its testnet is already live, supported by ecosystem partners such as Lombard, Amber Digital, and RockawayX.
A Hybrid Chain Linking Bitcoin and Ethereum
What sets BOB apart is its hybrid design, combining Bitcoin’s security with Ethereum’s programmability. BOB operates as part of the Superchain, leveraging the OP Stack as an Ethereum rollup, while also integrating with Babylon to ensure Bitcoin-based finality using billions of dollars in staked BTC.
BOB aims to eliminate the gap between Bitcoin holders and decentralized finance, enabling the world’s largest crypto asset to play a foundational role in multichain DeFi.
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