Bitcoin staking platform Solv Protocol raises $11 million at a valuation of $200 million, with participation from Blockchain Capital and others

10/14/2024, 12:05 PM

PANews reported on October 14 that according to CoinDesk, Bitcoin staking platform Solv Protocol has raised $11 million from Nomura Securities subsidiary Laser Digital, Blockchain Capital and other companies, with a valuation of $200 million. Solv Protocol's SolvBTC product has currently deployed more than 20,000 bitcoins (about $1.3 billion) on 10 major blockchain networks.

Bitcoin staking platforms have developed rapidly in recent years, aiming to invest hundreds of billions of dollars of Bitcoin capital in other networks to earn returns. Solv co-founder Ryan Chow said that Bitcoin's staking rate is much lower than Ethereum's 28%, and if it can reach a similar level, it will release about $330 billion in value.

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