Solv brings RWA-backed Bitcoin yield to Avalanche blockchain

Solv Protocol has launched a yield-bearing Bitcoin token on the Avalanche blockchain, giving institutional investors more exposure to yield opportunities backed by real-world assets, or RWAs.

On May 16, the protocol unveiled SolvBTC.AVAX, a token that connects Bitcoin (BTC) to real-world assets like US Treasurys and private credit offered by BlackRock and Hamilton Lane. 

The new token was developed through a seven-way partnership involving Solv, Avalanche, Balancer, Elixir, Euler, Re7 Labs, and LFJ, the company said.