It’s no wonder that Solv Protocol currently has $2 billion in Bitcoin (BTC) locked on its platform. Now, it has just rolled out SolvBTC.core, a Shariah-compliant yield product developed in collaboration with the Core ecosystem. This release aims to meet the growing interest in BTC-based financial products in the Middle East. It makes them sharia-compliant, as required by Islamic finance principles.
SolvBTC.core was launched to support BTC holders across the Middle East and we’re excited to empower them. They can now engage directly in the Core blockchain’s ecosystem and increase their spot holdings with added yield. The Core ecosystem is host to a growing number of interesting decentralized finance (DeFi) applications, from lending protocols to restaking and liquid staking solutions, to decentralized exchanges.
Ryan Chow, founder of Solv Protocol, believes that releasing this first Shariah-compliant product will lead to a lot more opportunities. Specifically, it intends to draw institutional investors from the Middle East.
"By aligning with both regional regulations and global financial standards, SolvBTC.CORE paves the way for sovereign wealth funds and traditional financial institutions to securely and confidently stake Bitcoin and earn real, on-chain yields. This is a significant step in accelerating the institutional adoption of digital assets in the region," - Ryan Chow
BTC has further strengthened its case as an asset to own, rather than trading it. Markets in Saudi Arabia, the UAE, Pakistan, Nigeria, Indonesia and Malaysia have adopted it. Solv Protocol’s new product, NFT Tickets, meets this growing need squarely. So, it provides the most compliant, ethical way to earn yield on your Bitcoin assets.
Nawa’s core contributor, Shaqir Hashim, was adamant that ethical, compliant Bitcoin yield strategies are essential.
"The next chapter is yield. At Nawa Finance, we’re helping power that evolution by enabling ethical, values-aligned Bitcoin yield strategies that meet the compliance expectations of both institutions and communities across these regions," - Shaqir Hashim
