Singapore-based Solv Protocol offers a platform to create financial instruments in the form of NFTs. Solv has developed a new standard, ERC-3525; a semi-fungible token standard based on the Ethereum blockchain that is designed to represent ownership in actual financial instruments such as bonds, insurance contracts, and even tokenized assets. The company has developed vesting vouchers, which are tokens that can be used to raise funds or lock-up ownership, in a particular asset for a set time period. Solv also offers a decentralized marketplace for users of the protocol to swap their NFTs. As of December 2021, the Solv Protocol had a total value locked of USD 40.6 million.
Funding and financials
In August 2023, Solv Protocol raised USD 6 million in new funding led by Laser Digital, to expand its employee base and further develop its platform.
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