UK blockchain project BOB raises $21M for hybrid Bitcoin-Ethereum DeFi chain

BOB’s $21M funding, highlighted by a $9.5M round with new investors Anchorage, Amber Group, and Sats Ventures, accelerates development of its hybrid blockchain featuring a zk-rollup model and Fireblocks integration for enhanced institutional access.

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Summary

In a press release, BOB announced raising $21M through multiple funding rounds, including a recent $9.5M round and an earlier $1.6M angel round. The funds will drive development of its hybrid blockchain that combines Bitcoin’s security with Ethereum’s DeFi innovation, enabling native BTC use without wrapped tokens. The project also introduced its first hybrid zk-rollup and integrated with Fireblocks to improve institutional access.

Terms & Concepts
  • DeFi: Decentralized finance: a blockchain-based system for financial services without traditional intermediaries.
  • Hybrid zk-rollup: A rollup technology combining optimistic scaling with zero-knowledge proofs to enhance transaction efficiency and security.