PANews reported on March 13 that according to CoinDesk, the Bitcoin staking platform Solv has raised $10 million for its Bitcoin Reserve Issuance (BRO), aiming to establish a $100 million BTC reserve. Solv will deploy the raised BTC into a variety of yield-generating tools, such as liquidity staking tokens, and invest in decentralized finance (DeFi), real-world assets (RWA), and institutional financial products. "This means that the Bitcoin reserves owned by the Solv protocol will be active and productive, rather than leaving BTC idle," Solv said in an announcement on Thursday.

According to reports, BRO combines aspects of traditional convertible bonds with crypto-native features to promote institutional adoption of BTC finance. Solv attempts to provide a "MicroStrategy on the chain" model, and BRO may attract institutions that want to invest in BTC as a value store in a similar way to MicroStrategy, but without having to buy and hold it personally. In addition, they may be looking for a more active form of BTC investment that generates income.