On August 1, Solv Protocol announced that it had effectively raised $6 million in investment. .

Laser Digital from the prominent Japanese investment banking giant Nomura Securities, UOB Venture Management, Mirana Ventures, Emirates Consortium, Matrix Partners, Bing Ventures, Apollo Capital, HashCIB, Geek Cartel, and Bytetrade Labs participated in this investment for Solv Protocol. 

Solv V3 is the latest product of the company, and the product’s development is the main goal in terms of this funding. The product represents a decentralized liquidity system that allows businesses to gather funds by crafting financial instruments.

Solv V3 addresses the issue of aligning funds with high-quality assets amid centralized trust uncertainties. It is a varied on-chain fund platform with a strong benchmark for on-chain fund creation, exchange, and settlement. Furthermore, it surmounts the constraints of investment strategies within the DeFi market, granting investors more extensive returns while upholding the security and transparency of their capital intact.

Solv V3 allows fund managers to build their reputation on the blockchain and extend their operations securely, all while providing investors with the advantages of professional asset management. 

The product has served more than 25,000 users since its inception in the second quarter of 2023 and facilitated trading operations totaling more than $100 million during its first quarter of operation.

Ryan Chow, the Chief Executive Officer of Solv Protocol, remarked:

“New DeFi narratives, such as RWA and LSD, are driving speculation around the next iteration of DeFi summer. Solv V3 will focus on the RWA track and is committed to introducing billions of dollars worth of income-generating assets for the industry through our fund platform in preparation for the next phase of DeFi mass adoption.”

Olivier Deng from Nomura Securities further stated about the investment:

“Solv has built a trustless institutional DeFi platform integrating brokers, underwriters, market makers, and custodians to create the first fund infrastructure on the blockchain to bridge DeFi, CeFi, and TradFi liquidity.”

About Solv Protocol

Solv Protocol is an autonomous platform designed explicitly for crafting, overseeing, and exchanging financial NFTs, an emerging class of digital assets backed by significant potential. This is accomplished by introducing a novel ERC token standard called the adaptable non-fungible token (vNFT), which combines the versatility of ERC-20 tokens with the uniqueness of ERC-721 tokens rendering it a partially fungible asset.