BOB Integrates with Fireblocks

Hybrid layer-2 network BOB aims to position Bitcoin at the forefront of the decentralized finance (DeFi) ecosystem by integrating with crypto custody firm Fireblocks.

This integration allows over 2,000 entities using Fireblocks to access BOB’s DeFi ecosystem, which boasts a total value locked (TVL) of approximately $250 million.

These users can now begin to earn yield on their BTC holdings through BOB’s network, as announced in a statement shared with CoinDesk on Monday.

BOB, short for “Build on Bitcoin“, aims to establish Bitcoin as the foundational network for DeFi by connecting with other blockchains and leveraging Bitcoin as a settlement network to finalize transactions.

Fireblocks stands as a leading custodian in the crypto sector, serving numerous large institutions and securing over $7 trillion in digital asset transactions.

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