Hybrid L2 BOB has integrated Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain. By combining Fireblocks' institutional-grade Multi-Party Computation (MPC) wallet with BOB’s Bitcoin-secured DeFi and bridging capabilities, institutions and businesses will be able to securely earn yield on their Bitcoin holdings through the BOB network.

This integration connects Fireblocks’ extensive client base of over 2,000 institutions to BOB’s robust BTC DeFi ecosystem, enabling seamless access directly through the Fireblocks platform. With over 380,000 DeFi users, 20 million mainnet transactions, and an ecosystem of 100+ projects, BOB is the proven home of BTC DeFi, contributing to the network’s growing BTC DeFi total value locked (TVL) of approximately $250 million.

BOB is advancing its Bitcoin-secured capabilities by integrating with Babylon, the leading BTC staking protocol, enabling Ethereum DeFi applications on BOB to leverage Bitcoin’s security. Additionally, BOB successfully released a trust-minimized Bitcoin bridge on testnet last week. The bridge is powered by BitVM, a revolutionary system that enables programs to be executed on Bitcoin optimistically, without requiring any forks or protocol changes. This will enable BTC to be deposited on BOB’s Hybrid Layer-2 blockchain without reliance on third parties.

The Fireblocks Network, the industry’s largest digital asset network, connects participants to the crypto capital markets with over 2,000 liquidity partners, trading venues, and counterparties. It facilitates instant settlement, rebalancing, and payments, creating a trusted layer to mitigate risks associated with digital asset transfers. With its customers including Revolut, BNY Mellon, and Galaxy Digital, Fireblocks is the world’s most trusted and proven digital asset infrastructure company, securing over $7 trillion in digital asset transactions across 100+ blockchains and 250+ million wallets.

The combination of Fireblocks’ institutional-grade MPC wallet and BOB’s Bitcoin-secured DeFi will provide institutions and businesses with one of the most secure and robust frameworks for participating in BTC DeFi. Through this integration, institutions, businesses and whales will benefit from: 

  • Industry-leading security with Fireblocks’ institutional-grade private key management, safeguarding assets against internal and external threats.
  • Accessibility and simplicity through Fireblocks’ Contract Call APIs, WalletConnect and Browser Extension, allowing institutions to seamlessly interact with DeFi protocols, simplifying asset transfers, staking and liquidity provision. 
  • ‍Enhanced efficiency through Fireblocks’ streamlined wallet infrastructure to support faster, more cost-effective transactions.

Alexei Zamyatin, BOB Co-Founder and core BitVM research contributor said: “It’s no secret that large institutions and Bitcoin whales want to be able to earn a yield on their large BTC holdings without sacrificing security. The combination of Fireblocks’ institutional-grade MPC wallet with Bitcoin-secured bridging and DeFi on BOB will make this possible. Institutions and retail users alike will be able to securely deploy into Bitcoin DeFi on BOB, with their assets protected by Fireblocks’ robust security.”