What You Need to Know:
- Solv Protocol has introduced SolvBTC.CORE, a Shariah-compliant yield product for Bitcoin, in partnership with the Core ecosystem.
- This solution allows Bitcoin holders to earn yields while observing Islamic finance principles, opening up investment channels for those in the Middle East.
- SolvBTC.CORE aims to draw institutional investors by aligning with local regulations and international financial norms.
Bitcoin staking protocol Solv, which holds over $2 billion worth of BTC, recently announced the launch of their Shariah-compliant yield product named SolvBTC.CORE. This new offering is designed as a liquid staking token for BTC and has been developed in association with the Core ecosystem, which provides various DeFi solutions including lending, restaking, and decentralized exchanges.
Guided by Nawa Finance and certified for Shariah compliance by Amanie Advisors, SolvBTC.CORE will generate yield by securing the Core blockchain network and participating in on-chain DeFi operations, while adhering to Islamic finance regulations.
The launch of the Shariah-compliant SolvBTC.CORE product will enable Bitcoin holders from the Middle East to fully engage in the Core blockchain’s growing ecosystem and earn additional yields on their Bitcoin holdings, thereby unlocking their investment potential.
Ryan Chow, the founder of Solv Protocol, commented on the Shariah-compliant initiative:
“By aligning with both local regulations and worldwide financial standards, SolvBTC.CORE opens the door for sovereign wealth funds and conventional financial institutions to securely stake Bitcoin and earn legitimate, on-chain yields. This marks a major advancement in enhancing the institutional adoption of digital assets in the region.”
In addition, Shaqir Hashim from Nawa Finance stated that Bitcoin is the most widely owned asset in markets such as Saudi Arabia, the UAE, Pakistan, Nigeria, Indonesia, and Malaysia, and investors are now keen to generate additional yields.
“The next chapter is yield. At Nawa Finance, we’re driving that change by facilitating ethical Bitcoin yield strategies that fulfill the compliance needs of both institutions and communities across these regions,” Hashim expressed.
