On-Chain fund platform Solv Protocol has closed a $6 million round of funding led by Laser Digital, which is a subsidiary of Nomura Securities.
Other companies that also participated in the investment round include UOB Venture Management, Mirana Ventures, Emirates Consortium, Matrix Partners, Apollo Capital, HashCIB, Geek Cartel, and Bytetrade Lab.
Solv Protocol, which was introduced in the second quarter, has quickly acquired popularity and demonstrated its market influence.
In the press release, Olivier Deng, global chief operating officer for the wholesale digital office at Nomura said, “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.”
The Solv process begins with an onboarding process for market makers, venture capitalists, and decentralized autonomous organizations (DAOs) interested in using the platform.
The decentralized liquidity infrastructure provided by Solv Protocol enables businesses to create, use, and sell financial products to raise money.
Users can construct financial products that are encased in semi-fungible tokens (SFT) after receiving approval.
According to DeFiLlama statistics, it presently boasts a total value locked of $2.8 million. The firm also boasts that since its founding, it has assisted in the trading of more than $100 million and served over 25,000 consumers.
Also Read: Web3 Startup ZYBER 365 Hits Unicorn Status with $100M Funding
