Solv Protocol pioneers the concept of ‘Financial NFT’, a tokenized token set to represent financial property and rights. The unique offering is now powered by Binance Labs. For details cryptocoin.com keep reading.
Solv Protocol raises funds from Binance Labs
According to Binance’s official announcement on its official website, innovation department Binance Labs has made a strategic investment in the startup Solv Protocol. Binance Labs will collaborate with Solv Protocol to launch NFTs on Binance’s NFT platform, in addition to funding the next phases of Solv Protocol development.
In addition, the Binance Labs portfolio of Web3 companies will be able to issue Financial NFTs on the Solv Protocol platform to seek additional funding. Peter Huo, investment director at Binance Labs, highlights the pioneering character of Solv Protocol’s offering for VC investment and the DeFi segment as a whole:
Solv Protocol, a decentralized marketplace for Financial NFT, is leading its own NFT space. We believe in the synergies that Binance and Solv will have in the future, especially given their proven prevalence in traditional finance, Financial NFTs like coupons have great room for growth. We look forward to working closely with the Solv team to explore innovations in DeFi.
Mike Meng, co-founder of Solv Protocol, is confident that the Vesting Vouchers presented by his team can address one of the most dangerous problems in DeFi, namely the lack of flexible and inclusive tools for individual investment:
The most pressing problem in the emerging DeFi field is the lack of an efficient and flexible tool for expressing complex financial contracts. Solv Protocol balances the gap by bringing to the table a market specifically designed for creating and trading Financial NFTs. With Binance Labs as our strategic investor, we are one step closer to building a better Financial NFT ecosystem. I believe that all parties will benefit from being involved in this innovative and rapidly growing sector of the crypto world.
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