Solmate, which was previously known as Brera Holdings PLC, has signed a preliminary agreement to acquire RockawayX. This strategic move will help the Abu Dhabi-based Solana firm evolve from being a passive digital asset treasury to a more integrated platform that delivers infrastructure and asset-management services.
In an announcement made on Thursday, the firms detailed that the all-stock deal will encompass all of RockawayX’s core operations, such as validator infrastructure and liquidity services, culminating in an entity that manages over $2 billion in assets.
The merger is expected to bring together their hardware, asset management, and market-making services under one umbrella, pending definitive agreements and necessary regulatory approvals projected for 2026.
Earlier last month, Solmate and RockawayX began joint efforts by establishing new Solana validator infrastructure in the UAE, enabling local asset staking.
Additionally, the merger could facilitate the provision of latency-sensitive services for high-frequency trading and exchange transactions, establishing Abu Dhabi as a central hub for these activities.
Since its inception in 2018, RockawayX has concentrated on early-stage crypto infrastructure investments and DeFi, now managing two venture capital funds and a credit fund, with over $1 billion in total investments.
Post-announcement, Solmate’s shares (SLMT) surged by more than 6% in early trading hours.
Continual Evolution of Digital Treasury Companies
Michael Saylor has been pivotal in shaping the modern model for digital asset treasury companies—publicly traded entities that incorporate Bitcoin or other cryptocurrencies in their balance sheets. As the landscape changes, major holders of cryptocurrencies are diversifying their sources of revenue beyond traditional crypto holdings.
Recently, ETHZilla has acquired a 20% stake in the AI-driven automotive finance startup, Karus, expanding into new verticals worth $10 million. Earlier this year, Strategy introduced a dividend-paying preferred stock, STRK, related to its Bitcoin assets, marking its first security targeting investors associated with digital asset operations.
Furthermore, Bitcoin mining firms are shifting their business strategies. For instance, MARA Holdings recently acquired a majority stake in an AI firm to deepen their technological capabilities, suggesting an industry-wide trend towards diversification.
