Bitcoin (BTC) Stakeing Platform Solv has raised $ 10 million to its Bitcoin Reserve offer (BRO) as it aims to build a $ 100 million BTC reserve.

Bro merges aspects of traditional convertible bonds with crypto-native features to operate institutional adoption of BTC financing, according to an email message shared with Coindesk on Thursday.

SOLV is trying to offer an “On-Chain Microstratey” model referring to Michael Saylor-Founded Software Company, which now owns nearly 500,000 BTC.

Bro may appeal to institutions that want to invest in BTC as a value of value in a similar way as a strategy (as Microstratey is now called), but without physically buying and keeping it yourself. Furthermore, they may be looking for a more active dividend-generating form of BTC investment.

SOLV will insert BTC, which is raised to various dividend-generating vehicles, such as Liquid Staking-tokens, and invested across decentralized funding (DEFI), assets in the real world (RWAs) and institutional financing products.

“What this means is that Solv’s protocoled Bitcoin Reserve will be active and productive instead of having BTC sitting at idle,” Solv said in Thursday’s announcement.