Solv Forms Partnership with Stellar… "Will Generate Yield from USDC"
Summary
- Solv announced it has partnered with Stellar to introduce yield-generating functionality to USDC assets.
- Solv said it will integrate DeFi functionality into about $200 million worth of USDC on the Stellar network.
- This will create a structure that allows idle USDC, previously used only for payments and remittances, to generate yield.
Solv Foundation, the operator of Solv Protocol (SOLV), announced on the 5th that it has formed a partnership with Stellar (XLM) and will introduce yield-generating functionality to USDC assets on the Stellar network. Solv is a Bitcoin financial protocol that offers Bitcoin (BTC) lending, liquidity staking, interest-earning products, and more. It currently records approximately $1.217 billion in total value locked (TVL).
Solv plans to apply decentralized finance (DeFi) to about $200 million worth of USDC circulating on the Stellar network. The goal is to generate yield from idle USDC that was previously used only for payments and remittances.
Specifically, Solv will integrate its automated yield product 'BTC·Vault' with the Stellar blockchain and will support remittance operators, fintech companies, and individual users in earning yield by utilizing payment liquidity.
Ryan Chow, Solv co-founder, said, "Stablecoins are evolving beyond cross-border remittances into capital-efficient DeFi assets," and added, "This collaboration is the next step in stablecoin utilization."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
