BOB Secures $21M in Funding with Amber Group's Participation

BOB, a hybrid DeFi chain for Bitcoin and Ethereum, has secured $21 million in funding, with $9.5 million in the latest round. Amber Group participated in the round, along with existing investors Castle Island Ventures, Ledger, and RockawayX. BOB recently launched its testnet and partnered with institutions for native Bitcoin DeFi transactions.

BOB, a hybrid decentralized finance (DeFi) chain designed to integrate Bitcoin and Ethereum, has secured $21 million in funding, with $9.5 million coming from the latest funding round. The round was led by Amber Group, along with existing investors Castle Island Ventures, Ledger, and RockawayX. BOB recently launched its testnet and has partnered with institutions to facilitate native Bitcoin DeFi transactions [1].

The funding will support BOB's development and expansion, particularly in the areas of security, scalability, and user experience. The company aims to provide a seamless and efficient platform for users to engage in DeFi activities across both Bitcoin and Ethereum networks. This integration is a significant step towards creating a more inclusive and versatile financial ecosystem.

BOB's testnet launch marks a key milestone in its journey towards a fully operational mainnet. The testnet allows developers to build and test applications that leverage the unique features of both Bitcoin and Ethereum, paving the way for innovative financial services. By partnering with institutions, BOB is positioning itself as a leader in the DeFi space, offering robust infrastructure and support for Bitcoin-based financial applications.

The recent surge in institutional interest in Bitcoin's infrastructure underscores the growing recognition of its potential beyond its traditional role as a store of value. This trend is evident in the launch of various Bitcoin-native ZK Rollups, such as GOAT Network's BitVM2 Beta Testnet, which offers real-time proving capabilities and sustainable BTC yield opportunities [2].

BOB's success in securing funding and launching its testnet is a testament to the growing demand for hybrid DeFi solutions that can bridge the gap between Bitcoin and Ethereum. As the DeFi ecosystem continues to evolve, platforms like BOB will play a crucial role in shaping the future of financial services.

References:
[1] https://www.ainvest.com/news/bitcoin-news-today-alpen-labs-launches-bitcoin-public-testnet-defi-infrastructure-2508/
[2] https://www.globenewswire.com/news-release/2025/08/01/3125565/0/en/Speed-matters-GOAT-Network-Launches-BitVM2-Beta-Testnet-with-Real-Time-Proving.html