Bitcoin (BTC) staking platform Solv Protocol has raised $11 million at a $200 million valuation from Nomura subsidiary Laser Digital, Blockchain Capital and OKX Ventures, among others.

Solv Protocol's SolvBTC product has more than 20,000 BTC staked ($1.3 billion) deployed across 10 major blockchain networks, according to an announcement shared with CoinDesk on Monday.

Various Bitcoin staking platforms and protocols have emerged in recent years aiming to tap the potential of the hundreds of billions of dollars worth of capital held in BTC, putting it to work on other networks.