Nomura Backs a $6M Round for the On-Chain Fund Solv Protocol

Solv Protocol, a Singapore-based on-chain fund protocol, ⁤has raised $6 million in a recent funding round. Laser Digital, the subsidiary of⁣ Nomura Securities (a Japanese banking giant), was one of⁤ the investors in this round.‌ The startup will use the capital to expand its team and work on its ‍technological platform.

Also participating in the round were ​UOB Venture Management ⁣and ​Mirana Ventures and Emirates Consortium. ⁤Other investors include Matrix Partners, Apollo Capital ‍HashCIB Geek Cartel,⁣ Bytetrade Labs and⁢ Matrix Partners.

In a press release, Olivier Deng said that Solv has built an institutional DeFi platform, integrating brokers, underwriters‍ and‌ market makers to create the first blockchain⁢ funds ⁤infrastructure that includes DeFi (derivatives), CeFi ‌(certified equity) ⁤and TradFi ⁢connects (Traded Liquidity).

Solv is a⁣ decentralized​ liquidity platform that allows⁣ companies‌ to raise funds through the creation, use and sale of financial instruments. Solv’s onboarding ‌process caters to crypto-native⁣ investors, market‍ makers, and decentralized autonomous organizations (DAOs). Once ‍approved, users can create‌ financial products packaged in semi-fungible tokens (SFT). SFTs are ⁤distributed through the Solv platform or through an underwriter to obtain liquidity from buyers ​or investors. The user can then earn ‍income and pay income​ to investors either over time or at SFT​ settlement.

According to DeFiLlama, Solv,​ which launched in the second quarter of this year, has grown to a total‍ value of $2.8 million. ‍Since its launch in Q2, Solv has⁢ served ⁣more than 25,000 users. It also allows over $100⁣ million in⁣ trading volume.