The Bitcoin staking platform Solv has raised $10 million for its Bitcoin reserves

ChainCatcher news, according to CoinDesk, the Bitcoin staking platform Solv has raised $10 million for its Bitcoin Reserve Offering (BRO), aiming to establish a $100 million BTC reserve. Solv will deploy the raised BTC into various yield-generating tools, such as liquid staking tokens, and invest in decentralized finance (DeFi), real-world assets (RWA), and institutional financial products.

Solv stated in a Thursday announcement: "This means that the Bitcoin reserves held by the Solv protocol will be active and productive, rather than letting BTC sit idle."

BRO combines various aspects of traditional convertible bonds with crypto-native features to drive institutional adoption of BTC finance. Solv aims to provide a "on-chain MicroStrategy" model, and BRO may attract institutions looking to invest in BTC as a store of value in a manner similar to MicroStrategy, but without the need to purchase and hold it personally. Additionally, they may be seeking a more actively yield-generating form of BTC investment.