Solv Protocol Raises $6 Million in Funding Round
The Singapore-based startup, Solv Protocol, has secured $6 million in a recent funding round. This round saw investment from various parties, including Laser Digital, a subsidiary of Nomura Securities. The funds will be used to expand the team and further develop the platform’s technology.
Key Points:
– Solv Protocol offers a trustless institutional DeFi platform that integrates brokers, underwriters, market makers, and custodians to bridge DeFi, CeFi, and TradFi liquidity.
– The platform allows organizations to raise funds by creating, using, and selling financial products through its decentralized liquidity infrastructure.
– Users go through an onboarding process to access the platform, after which they can create financial products wrapped in semi-fungible tokens (SFT).
– These SFTs are distributed through the Solv platform or an underwriter to attract interested buyers or investors.
– Solv Protocol has already achieved significant growth, with $2.8 million in total value locked, over 25,000 users served, and over $100 million in trading volume since its launch in Q2 of this year.
Hot Take:
Solv Protocol’s successful funding round and impressive growth demonstrate the growing demand for decentralized finance solutions. By providing a platform that bridges the gap between traditional and decentralized finance, Solv offers a promising solution for institutions and venture capitalists seeking to enter the crypto space. With its strong investor backing, Solv Protocol is well-positioned for further expansion and innovation in the industry.
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