Hybrid layer-2 network BOB’s mission to create Bitcoin the center of the decentralized finance (DeFi) universe continues via its integration with crypto custody agency Fireblocks.
The integration capability the over 2,000 entities utilizing Fireblocks will net net entry to to BOB’s DeFi ecosystem, which has total note locked (TVL) of around $250 million.
These customers can now accomplish yield on their BTC holdings via BOB’s network, essentially based fully on an announcement shared with CoinDesk on Monday.
BOB, an abbreviation of “Maintain on Bitcoin”, has the plot of making Bitcoin the foundational network for DeFi by bridging to other blockchains and utilizing Bitcoin as a settlement network to finalize transactions.
Fireblocks is one of many predominant custodians within the crypto industry, counting heaps of gigantic institutions amongst its customers and securing over $7 trillion in digital asset transactions.
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