Solmate appears past SOL treasury mannequin with RockawayX acquisition

Solmate, previously Brera Holdings PLC, has signed a nonbinding time period sheet to amass RockawayX, a deal that may shift the Abu Dhabi–based mostly Solana firm from a passive digital-asset treasury to a unified platform providing infrastructure, liquidity and asset-management companies.

In accordance with Thursday’s announcement, the all-stock deal would see Solmate purchase all of RockawayX’s operations, together with its validator infrastructure and onchain liquidity enterprise, in addition to its enterprise and credit score funds, making a mixed entity with greater than $2 billion in belongings underneath administration.

The businesses mentioned the merger would mix their staking, {hardware}, market-making and asset-management strains underneath a single roof, pending definitive agreements and regulatory and shareholder approvals anticipated in 2026.

Solmate and RockawayX started collaborating final month by launching new Solana validator infrastructure within the United Arab Emirates (UAE), permitting establishments to stake belongings domestically.

The businesses say a merger would additionally allow them to provide transaction-ordering and different latency-sensitive companies for exchanges and high-frequency merchants, with Abu Dhabi positioned as a possible middle for this exercise.

RockawayX has invested in early-stage crypto infrastructure and DeFi initiatives since 2018 and now manages two enterprise funds and a credit score fund, with greater than $1 billion in mixed investments and staked belongings.

Solmate’s share value (SLMT) climbed over 6% in early-day buying and selling on the again of the information.

SLMT’s intraday efficiency on the Nasdaq. Supply: Yahoo Finance

Associated: Technique Bitcoin buys collapse, firm braces for bear market: Analyst

Digital asset treasury firms proceed to evolve

Michael Saylor’s firm helped set up the early mannequin for digital asset treasury firms, that are publicly traded companies that maintain Bitcoin (BTC) or different cryptocurrencies on their stability sheets.

Since 2020, when Technique made its preliminary Bitcoin buy, that mannequin has developed, with main company holders now looking for to diversify their income streams past easy crypto publicity.

On Wednesday, Ether treasury firm ETHZilla acquired a 20% absolutely diluted stake within the automotive finance AI startup Karus. The deal, valued at $10 million, will give ETHZilla entry to Karus’s underwriting AI fashions, which it plans to make use of to subject onchain, tokenized auto-loan portfolios.

Earlier in 2025, Technique additionally launched STRK, an 8% dividend-paying most well-liked inventory linked to its Bitcoin technique. Whereas the corporate had beforehand used Bitcoin as company collateral, STRK was its first investor-facing safety structured round its digital asset operations.

Bitcoin miners, which additionally rank among the many largest company holders of cryptocurrencies, are likewise revising their enterprise fashions.

MARA Holdings, the second-largest Bitcoin treasury after Technique, has been increasing past its core enterprise. In August, the corporate moved deeper into AI by buying a 64% stake in Exaion for $168 million. Riot Platforms and CleanSpark have additionally been increasing into AI and high-performance computing this 12 months.