Layer-2 BOB's 'Bitcoin DeFi' Continues to Grow with Fireblocks Integration
Fireblocks Users Can Now Earn on Their BTC Savings via the BOB Network
Updated March 3, 2025, 15:39 UTC Published March 3, 2025, 16:00 UTC
What you should know:
- The second-layer BOB network has integrated with leading cryptocurrency storage company Fireblocks.
- The main goal of BOB is to make Bitcoin the base network for DeFi, connecting it to other blockchains and using Bitcoin to settle transactions.
Hybrid second-layer network BOB's mission to make Bitcoin a central element of decentralized finance (DeFi) continues through a partnership with crypto-custodial company Fireblocks.
This integration means that over 2,000 organizations using Fireblocks will gain access to BOB's DeFi ecosystem, with a total value locked (TVL) of approximately $250 million.
According to a statement published by CoinDesk on Monday, these users can now earn income on their BTC holdings through the BOB network.
The goal of BOB (which stands for “Build on Bitcoin”) is to make Bitcoin the foundational network for DeFi by connecting it to other blockchains and using Bitcoin as a settlement network to complete transactions.
Fireblocks is one of the leading custodians in the crypto industry, with many large institutional investors among its clients and a digital asset transaction volume exceeding $7 trillion.
Read more: Fireblocks adds Sony Soneium support, marking first step in offering storage services
