The structure of the interface of explosion-bonded Mo/Cu system has been examined by optical and electron (TEM, AEM) microscopy. Molybdenum and copper can be directly bonded along the flat interface without a diffusion zone, but only on the copper side of the interface is a thin (about 10 μm thick) “bond layer,” which consists of very fine subgrains with an ill-defined boundary. The microstructure in the bond layer is generated by severe dynamic deformation due to jetting and subsequent recovery with frictional heating. On the molybdenum side, originally-existing and elongated subgrains are observed just adjacent to the interface, even after bonding. These results indicate that jetting can occur only on the copper side, with a strength much lower than molybdenum because bonding must be carried out at an impact pressure as low as possible to avoid cracking of molybdenum as well as melting of copper during welding.