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Animoca Brands, a leader in Web3 gaming, has joined forces with decentralized finance platform Solv Protocol to assist significant Bitcoin holders in Japan in generating yield from their assets.
The collaboration aims to merge the infrastructure of Solv with the institutional network of Animoca Brands to target corporations and publicly listed entities that maintain substantial Bitcoin (BTC) treasuries, as stated in an announcement shared with Cointelegraph on Wednesday.
Kensuke Amo, CEO of Animoca Brands Japan, highlighted that while many companies merely hold Bitcoin, this new partnership with Solv seeks to alter that scenario.
“Through this collaboration, we aspire to create an ecosystem where companies can not only hold Bitcoin as a financial asset but also utilize it as a new revenue source to spur corporate growth,” he stated.
Traditionally, Bitcoin does not function as a yield-generating asset since holding it in a wallet does not yield interest, dividends, or staking rewards; it necessitates an external mechanism, such as lending or locking.
Solv offering between 4% and 12% Bitcoin yield
The new initiative will leverage Solv’s universal Bitcoin-backed wrapper, allowing treasury firms to achieve an annual yield of between 4% and 12%.
Solv generates Bitcoin yield via lending markets, providing liquidity to AMM pools, and engaging in structured staking programs, as outlined in its white paper.
Ryan Chow, co-founder and CEO of SOLV, mentioned that his protocol has demonstrated that “Bitcoin can function as productive capital,” and the forthcoming phase of development will focus on “delivering secure, compliant, and high-yield treasury solutions to Japan’s most innovative companies.”
Related: Metaplanet seeks $135M raise through new Class B shares to fuel further Bitcoin acquisitions
SOLV is supported by investors such as Binance Labs and Blockchain Capital and manages over $2.8 billion in assets, according to the company.
Metaplanet holds the largest Bitcoin treasury in Japan
There are 11 publicly traded companies in Japan that have Bitcoin included in their balance sheets, as reported by Bitbo. The leading company in Japan holding Bitcoin, and the fourth-largest globally, is Metaplanet, which possesses approximately 30,823 coins on its balance sheet.
Following Metaplanet is Nexon, a South Korean game developer headquartered in Japan, which holds 1,117 Bitcoin. The consultancy firm Remixpoint rounds out the top three with 1,273 Bitcoin.
Only one private Japanese company possesses Bitcoin, the collapsed exchange Mt. Gox, which still retains over 34,000 tokens despite declaring bankruptcy in 2014.
Magazine: Author of Mysterious Mr. Nakamoto — Discovering Satoshi would harm Bitcoin
