Solv Protocol Raises $11M at $200M Valuation to Expand $1.3B Bitcoin Staking Platform

Oct 14, 2024, 01:28 PM

Solv Protocol, a pioneering Bitcoin staking platform, has completed an $11 million strategic funding round, valuing the company at $200 million and bringing its total funding to $25 million. The new capital will be used to expand Solv's Staking Abstraction Layer (SAL), which aims to improve Bitcoin liquidity. Major participants in the funding round include Nomura subsidiary Laser Digital, Blockchain Capital, OKX Ventures, and others. Since launching in April 2024, Solv has attracted over 21,000 BTC staked, worth approximately $1.3 billion, and has amassed more than 400,000 users.