Solmate plans to acquire RockawayX in an all-stock deal, creating a $2 billion institutional-grade Solana giant

According to CoinDesk, Solmate (stock code SLMT), a Solana infrastructure company focused on the Abu Dhabi market, has signed a non-binding term sheet to acquire the digital asset company RockawayX through an all-stock transaction.

This acquisition will create an institutional cryptocurrency group with managed assets and third-party interests exceeding $2 billion. The merged company will integrate RockawayX's infrastructure, liquidity, and asset management business into Solmate, which is transitioning from passive digital asset fund management to an operational cryptocurrency business, and will continue to trade under the stock code SLMT. Solmate's CEO Marco Santori will lead the group, while RockawayX's CEO Viktor Fischer will oversee the operations of the RockawayX subsidiary and serve as the executive chairman of Solmate.

RockawayX is the blockchain business division of venture capital firm Rockaway Capital, providing on-chain market-making, lending, and other services. The company also manages venture capital and credit funds that collectively oversee approximately $1.04 billion in assets, with around $1.1 billion in assets staked on its validation nodes.