Solv Launches Shariah-Compliant Yield Product for Bitcoin Holders

Solv Protocol has launched a Shariah-compliant yield product, SolvBTC.core, which is a liquid staking token for Bitcoin (BTC). Key details include:

Over $2 billion worth of BTC locked in the platform
Developed with the Core ecosystem for various DeFi applications
Guided by Nawa Finance and accredited by Amanie Advisors for Shariah compliance
Generates yield by securing the Core blockchain and engaging in on-chain DeFi activities
Targets BTC holders in the Middle East for participation in the Core ecosystem

Ryon Chow, founder of Solv Protocol, noted this product may attract institutional investors by adhering to regional regulations and global financial standards. Shaqir Hashim from Nawa Finance highlighted that BTC is widely held in markets like Saudi Arabia and the UAE, with demand for additional yield options increasing.