Solv Unveils Shariah-Compliant Bitcoin Yield Product, Expanding Middle East Investment Opportunities
Bitcoin staking platform Solv, which currently holds over $2 billion in BTC on its platform, announced the launch of its new Shariah-compliant yield product, SolvBTC.core, on Tuesday.
The innovative offering, a liquid staking token for BTC, was developed in partnership with the Core ecosystem, which provides a suite of decentralized finance (DeFi) services, including lending, restaking, liquid staking, and decentralized exchanges.
The SolvBTC.core product is fully compliant with Islamic finance principles. It was created with guidance from Nawa Finance and received accreditation from Amanie Advisors for its adherence to Shariah standards. SolvBTC.core generates yield by securing the Core blockchain network and participating in on-chain DeFi activities.
Solv’s platform enables Bitcoin holders to lend, stake, and invest their assets, unlocking the full potential of their holdings. The introduction of the Shariah-compliant SolvBTC.core product now allows Middle Eastern BTC holders to directly engage with the Core blockchain’s growing ecosystem and earn additional yield on their Bitcoin holdings.
Ryan Chow, founder of Solv Protocol, emphasized that this Shariah-compliant offering could open up new investment opportunities for institutional players in the Middle East.
“By aligning with both local regulations and international financial standards, SolvBTC.core enables sovereign wealth funds and traditional financial institutions to securely stake Bitcoin and earn legitimate, on-chain yields. This is a crucial milestone in driving the institutional adoption of digital assets across the region,” Chow commented in a press release shared with CoinDesk.
Shaqir Hashim, core contributor at Nawa Finance, highlighted that Bitcoin is the most widely held asset in regions such as Saudi Arabia, the UAE, Pakistan, Nigeria, Indonesia, and Malaysia. He pointed out that these markets are now looking to generate additional yields on their Bitcoin investments.
“The next phase is yield. At Nawa Finance, we’re empowering this evolution by offering ethical, Shariah-compliant Bitcoin yield strategies that meet the needs of both institutions and communities across these regions,” Hashim explained.
