Layer-2 BOB Advances 'Bitcoin DeFi' With Fireblocks Integration

Fireblocks users can now generate yield on their Bitcoin holdings through BOB's network, marking another step forward for Bitcoin DeFi.

Key Points:

• Layer-2 network BOB has integrated with top crypto custody provider Fireblocks.
• BOB aims to position Bitcoin as the backbone of DeFi by enabling cross-chain connections and using Bitcoin as a settlement layer for finalizing transactions.

BOB, a hybrid layer-2 network, is advancing its mission to position Bitcoin at the core of decentralized finance (DeFi) through its integration with crypto custody firm Fireblocks.

This partnership grants over 2,000 Fireblocks clients access to BOB’s DeFi ecosystem, which currently holds approximately $250 million in total value locked (TVL).

Fireblocks users can now earn yield on their BTC holdings through BOB's network, according to a Monday announcement shared with CoinDesk.

BOB, short for "Build on Bitcoin," aims to establish Bitcoin as the foundation of DeFi by enabling cross-chain connectivity and utilizing Bitcoin as a settlement layer for finalizing transactions.

Fireblocks, a leading crypto custodian, serves major institutions and has secured over $7 trillion in digital asset transactions.