Abu Dhabi-focused Solana infrastructure agency Solmate (SLMT) has signed a non-binding time period sheet to accumulate digital asset agency RockawayX in an all-stock deal that might create an institutional crypto group with greater than $2 billion in belongings and third-party stake.
The mixed firm would fold RockawayX’s infrastructure, liquidity and asset administration items into Solmate, which is shifting from a passive digital asset treasury to an working crypto enterprise, and carry on buying and selling underneath the SLMT ticker.
The deal, anticipated to shut within the first half of 2026, nonetheless requires definitive agreements, regulatory clearance and shareholder approval.
Solmate CEO Marco Santori would lead the group, whereas RockawayX chief Viktor Fischer would run the RockawayX subsidiary and function Solmate’s govt chairman in response to a press launch shared with CoinDesk.
RockawayX, the blockchain arm of enterprise capital agency Rockaway Capital, brings onchain market making, lending and “solver” providers utilized by main cross-chain bridges like Wormhole and Debridge, plus enterprise and credit score funds that collectively oversee about $1.04 billion, together with round $1.1 billion staked to its validators.
Solmate, which rebranded from Brera Holdings earlier this 12 months, plans to make use of that stack to earn yield on its treasury and to again Solana-based markets that deal with tokenized shares, treasuries and futures.
The 2 corporations unveiled Solana infrastructure within the U.A.E. in November permitting native buyers can stake belongings contained in the area.
“Because the mixed entity’s staked treasury grows, so would its capacity to land transactions for high-frequency merchants – all along with producing staking yield,” the discharge stated. “Solmate’s and RockawayX’s infrastructure would supply these similar providers, not just for buying and selling, however for on a regular basis onchain transactions like shopper funds as nicely.”
SLMT shares traded virtually 6% increased at $2.51 in pre-market buying and selling on Thursday.