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Layer-2 BOB's 'Bitcoin DeFi' Continues Progress With Fireblocks Integration
Fireblocks users can now earn yield on their BTC holdings via BOB's network
What to know:
- Layer-2 network BOB has integrated with leading crypto custody firm Fireblocks.
- BOB's goal is to make Bitcoin the foundational network for DeFi by bridging to other blockchains and using Bitcoin as a settlement network to finalize transactions.
Hybrid layer-2 network BOB's mission to make Bitcoin the center of the decentralized finance (DeFi) universe continues through its integration with crypto custody firm Fireblocks.
The integration means the over 2,000 entities using Fireblocks will get access to BOB's DeFi ecosystem, which has total value locked (TVL) of around $250 million.
STORY CONTINUES BELOW
These users can now earn yield on their BTC holdings via BOB's network, according to an announcement shared with CoinDesk on Monday.
BOB, an abbreviation of "Build on Bitcoin", has the goal of making Bitcoin the foundational network for DeFi by bridging to other blockchains and using Bitcoin as a settlement network to finalize transactions.
Fireblocks is one of the foremost custodians in the crypto industry, counting many of large institutions among its clients and securing over $7 trillion in digital asset transactions.
Read More: Fireblocks Adds Support for Sony's Soneium, First Step in Provision of Custody Services
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
