Solmate (SLMT), an infrastructure firm focused on Abu Dhabi and built on the Solana network, has entered into a non-binding term sheet aimed at acquiring the digital asset company RockawayX in an all-stock transaction. This merger would establish a prominent institutional cryptocurrency entity with over $2 billion in assets and external investments.
The new entity will integrate RockawayX’s operational units, including infrastructure, liquidity, and asset management, within Solmate, which is transitioning from merely managing a digital asset treasury to actively operating as a crypto business, while maintaining the SLMT ticker for trading.
Anticipated to be finalized in the first half of 2026, the agreement still must secure definitive contracts, approval from regulatory bodies, and shareholder consent.
Marco Santori, the CEO of Solmate, will oversee the group, while Viktor Fischer, the head of RockawayX, will manage the subsidiary and take on the role of executive chairman of Solmate, as stated in a press release issued to CoinDesk.
RockawayX, which is the blockchain division of the venture capital firm Rockaway Capital, provides services such as on-chain market making, lending, and “solver” solutions that are utilized by significant cross-chain bridges like Wormhole and Debridge. They also manage venture and credit funds totaling approximately $1.04 billion, in addition to around $1.1 billion delegated to its validators.
Earlier this year, Solmate, previously known as Brera Holdings, intends to leverage this integrated system to optimize yield on its treasury, as well as support Solana-centric markets that deal with tokenized assets like stocks, government bonds, and futures contracts.
The two organizations launched Solana infrastructure in the U.A.E. in November, enabling local investors to stake their assets within the region.
According to the press release, “As the staked treasury of the combined entity expands, so too will its capacity to facilitate transactions for high-frequency traders, in addition to generating staking yields.” It went on to note that the infrastructures of Solmate and RockawayX would offer these services not just for trading, but also for everyday on-chain transactions such as consumer payments.
In pre-market trading on Thursday, SLMT shares rose nearly 6% to $2.51.
