Bitcoin staking protocol Solv, with more than $2 billion in assets locked, unveiled a Sharia-compliant yield product called SolvBTC.CORE on Monday.
This product provides BTC holders with the opportunity to earn income in accordance with the principles of Islamic finance, opening up new horizons for investors in the Middle East.
Author: Omkar Godbole | Edited by: Sam Reynolds Updated: April 29, 2025, 1:18 pm Published: April 29, 2025, 11:56 am
Key points:
- Solv Protocol has introduced SolvBTC.CORE, a Sharia-compliant Bitcoin income product developed in partnership with the Core ecosystem.
- This product allows BTC holders to earn while adhering to the principles of Islamic finance, thereby expanding opportunities for investors in the Middle East.
- SolvBTC.CORE aims to attract institutional investors by complying with local regulations and international financial standards.
Bitcoin staking protocol Solv, which has over $2 billion in BTC locked on its platform, announced on Tuesday the launch of a Sharia-compliant yield product called SolvBTC.CORE.
The new offering, a liquid token for staking BTC, was created in collaboration with the Core ecosystem, which provides a variety of DeFi applications including lending, restaking, liquid staking, and decentralized exchanges.
SolvBTC.CORE was developed under the guidance of Nawa Finance and certified by Amanie Advisors for Shariah compliance, generating income by supporting the Core blockchain network and participating in on-chain DeFi activities while adhering to the principles of Islamic finance.
The Solv protocol provides BTC holders with the ability to lend, stake, earn, and invest, unlocking the full potential of their coins. The launch of Sharia-compliant SolvBTC.CORE means that BTC holders in the Middle East can now directly participate in the growing Core blockchain ecosystem to earn additional income on top of their spot assets.
Ryan Chow, founder of Solv Protocol, noted that a Sharia-compliant product could open up new opportunities for institutional investors in the Middle East.
“SolvBTC.CORE, by aligning with both local standards and international financial regulations, creates opportunities for sovereign wealth funds and traditional financial institutions to securely and confidently stake Bitcoin and earn real on-chain returns. This is an important step in accelerating institutional adoption of digital assets in the region,” Chow said in a press release provided to CoinDesk.
Shakir Hashim, chief analyst at Nawa Finance, said that BTC is the most popular asset in markets such as Saudi Arabia, UAE, Pakistan, Nigeria, Indonesia and Malaysia, and the next thing that holders look at is the opportunity to earn additional yield.
“The next step is yield. At Nawa Finance, we are facilitating this evolution by implementing ethical and value-based Bitcoin yield strategies that meet the expectations of both institutional and local communities in these regions,” Hashim added.
