Hyperithm Invests in ‘Solv Protocol’ : Advancing BTC-Linked DeFi Solutions
Reading Time: 2 minutesKorean startup Hyperithm has invested in ‘Solv Protocol,’ an omnichain liquidity infrastructure service that consolidates assets distributed across various blockchains. Founded in January 2018, Hyperithm is a virtual asset financial services company with bases in Korea and Japan, currently providing virtual asset corporate finance services to corporations and qualified investors.
Solv Protocol successfully secured approximately $4 million in this investment round, led by Blockchain Capital. Other participants included Sfermion, DeFi Alliance, CMT Digital, The LAO, CMS Holdings, and Apolo Capital.
Based in Singapore, Solv Protocol is a Web3.0 liquidity infrastructure platform aimed at tokenizing and integrating high-yield strategies within the DeFi (decentralized finance) sector.
Solv Protocol’s flagship product, $SolvBTC, has become one of the highest-yielding products in the Bitcoin ecosystem since its launch in April. The synthetic BTC token issued by Solv Protocol, $SolvBTC, is designed to maximize BTC’s utility in DeFi and can be used in the Ethereum or other blockchain ecosystems thanks to its omnichain technology.
Since its April launch, $SolvBTC has surpassed $1 billion in total assets deposited. Additionally, its recent integration with emerging stablecoin issuer Ethena has further expanded income-generating opportunities for Bitcoin-based assets, making it one of the most popular BTC-linked products on the market.
Joon Won Lee, CEO of Hyperithm, shared his thoughts on the investment, saying, “As an investor in Solv Protocol, we are delighted to contribute to the advancement of BTC-linked products. Solv Protocol enhances BTC’s capital efficiency and supports a robust Bitcoin ecosystem. Their strong security features and solid partnerships demonstrate their commitment to leading the DeFi industry.”
[Korean Blockchain Startup News]
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