Solv raised $10 million for BTC reserve issuance to drive institutional adoption of BTC finance

PANews reported on March 13th that Solv, a BTCstake platform, has raised $10 million for its BTC reserve issuance (BRO) to establish a $100 million BTC reserve. Solv will deploy the raised BTC into various yield-generating tools, such as LiquiditystakeToken, and invest in Decentralized Finance (DeFi), Real World Assets (RWA), and institutional financial products. In Thursday's announcement, Solv stated, "This means that the BTC reserve owned by Solvprotocol will be active and productive, rather than letting BTC idle." According to the introduction, BRO combines various aspects of traditional convertible bonds with native cryptographic functions to promote institutional adoption of BTC finance. Solv is trying to provide an "on-chain MicroStrategy" model, which may attract institutions that want to invest in BTC as a value store in a way similar to MicroStrategy, but without the need to buy and hold it themselves. In addition, they may be seeking a more proactive form of BTC investment that generates income.