Solv Protocol Expands to Solana, Bringing Bitcoin-Native Financial Products to New Users

On May 27, Solv Protocol expanded to Solana via InterportFi and Chainlink's CCIP for cross-chain integration. The move brings Bitcoin-native financial products

Solv Protocol has expanded to the Solana blockchain with the help of InterportFi and Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This integration brings Solv’s BTC-native financial products, such as SolvBTC, xSolvBTC, and SolvBTC.JUP, to the Solana ecosystem.

Solv Protocol is a leading decentralized finance (DeFi) protocol focused on Bitcoin liquidity management. Currently managing over $2 billion in total value locked (TVL), Solv aims to provide programmable Bitcoin yield to a broader user base. Its mission aligns with InterportFi’s vision for faster, cheaper, and more efficient cross-chain operations.

This integration is a significant milestone. It unlocks access to Solv’s BTC-native financial products for Solana users. At the same time, it showcases InterportFi’s role in facilitating seamless cross-chain operations. The collaboration merges two previously siloed blockchain networks, ensuring the smooth swap and transfer of tokens and liquidity.

Moreover, Solv Protocol has been actively integrating Chainlink’s Proof of Reserve (PoR) across its ecosystem. This includes SolvBTC and xSolvBTC on Ethereum, and the recent deployment of Solv Protocol on BNB Chain.

To date, Chainlink’s decentralized oracles are used to routinely secure over $2 billion in BTC-native TVL across Solv’s ecosystem. These Chainlink PoR feeds are able to continuously validate and aggregate attestations from distributed ledger technology (DLT) nodes, which in turn are used to keep a running total of Solv’s BTC reserves. These PoR attestations are publicly and perpetually available on-chain, and they are used to generate a Chainlink Price Feed that is used to mint and burn Solv’s tokens to ensure they are always 1:1 backed by Bitcoin or the underlying tokenized real-world assets.

This integration marks a critical stage in expanding BTC-native financial products to new chains. As institutions increasingly demand verifiable and compliant digital finance solutions, Solv Protocol’s arrival on Solana is particularly pertinent.

Solv Protocol’s integration of Chainlink’s PoR sets a new benchmark for Bitcoin-native finance. The real-time data feeds from Chainlink’s oracles validate reserves automatically, allowing regulated institutions to adopt DeFi strategies with trust and compliance. This level of transparency minimizes dependence on opaque custodians and central audits.

The launch of SolvBTC and xSolvBTC on Ethereum and Solv Protocol on BNB Chain showcases the protocol’s multi-chain growth strategy. Now, with the addition of Solana, the potential of Bitcoin can be realized across a wider range of blockchains.

Solv’s BTC-native products on Solana will be used to generate yield on Solana-native assets, and Solv’s xSolvBTC can be used to provide exposure to short-duration credit instruments and government bonds. These tokenized assets will be locked in smart contracts to generate yield on the SolvBTC positions, ensuring transparency.

This integration also unlocks the possibility of deploying Shariah-compliant BTC-native yield products on Solana. Solv Protocol’s flagship product, SolvBTC, is already Shariah-ready, having received certification from Amanie Advisors. This opens up opportunities for capital from the Middle East, and Solv is actively seeking out strategic partnerships in the region.

Recently, Mubadala announced a $436 million investment in Bitcoin ETFs through its holding in Convergence. This move highlights the increasing interest of large institutional investors in cryptocurrencies and signals further integration between traditional and decentralized finance.

Solv Protocol’s offerings align with the investment mandates of global institutional investors. From Japanese investment bank Nomura to Gulf investment firm Daman Investments and American asset manager Franklin Templeton, there is a growing demand for innovative and compliant digital finance solutions.

As Solv Protocol expands its presence to new Layer-1s and Layer-2s, the protocol’s unique capabilities in managing and tokenizing BTC liquidity will become increasingly valuable. With its focus on speed, efficiency, and security, Solv Protocol is poised to play a key role in the future of decentralized finance.