Bitcoin Stoking Protocol Solv, which has more than $ 2 billion BTC locked on its platform, announced on Tuesday the launch of a performance product compliant with Sharia law called Solvbtc.Core.
The new offer, a liquid BTC token, has been developed in collaboration with the basic ecosystem, which offers a range of DEFI applications, including loans, appeal, liquid milestone and decentralized exchanges.
Created with advice from Nawa Finance and accredited by Amania Advisors for the conformity of Sharia law, Solvbtc.Core generates a yield by securing the basic blockchain network and by initiating chain challenge activities while joining the Islamic finance principles.
The SOLV protocol allows BTC holders to lend, take, win yields and invest, unlock the full potential of their room hiding place. The launch of the SOLVBTC.Core in accordance with Sharia law means that BTC holders in the Middle East can now participate directly in the basic blockchain expansion ecosystem to generate additional yield in addition to their occasional operations.
Ryan Chow, founder of Solv Protocol, said that the product compliant with sharia could open new routes to institutional investors in the Middle East.
“By aligning both regional regulations and global financial standards, SOLVBTC.Core opens the way to sovereign funds and traditional financial institutions with a safe and confidence Bitcoin and real chain yields.
Shaqir Hashim, a basic contributor to Nawa Finance, said the BTC is the most detained asset in markets such as Saudi Arabia, the United Arab Emirates, Pakistan, Nigeria, Indonesia and Malaysia, and the next thing that holders are looking for is to generate an additional performance.
“The next chapter is the yield. At Nawa Finance, we help to be able to evolve by allowing ethical Bitcoin yield strategies and aligned with the values that meet the expectations of the compliance of the institutions and communities in these regions,” said Hashim.
