Abu Dhabi-focused Solana infrastructure firm Solmate (SLMT) has signed a non-binding term sheet to acquire digital asset firm RockawayX in an all-stock deal that would create an institutional crypto group with more than $2 billion in assets and third-party stake.
The combined company would fold RockawayX’s infrastructure, liquidity and asset management units into Solmate, which is transitioning from a passive digital asset treasury to an operational crypto business, and continue to trade under the SLMT ticker.
The deal, which is expected to close in the first half of 2026, still requires final agreements, regulatory approval and shareholder approval.
Solmate CEO Marco Santori would lead the group, while RockawayX chief Viktor Fischer would run the RockawayX subsidiary and serve as Solmate’s executive chairman, according to a press release shared with CoinDesk.
RockawayX, the blockchain arm of venture capital firm Rockaway Capital, brings onchain market-making, lending and “solver” services used by major cross-chain bridges such as Wormhole and Debridge, plus venture and credit funds that collectively oversee about $1.04 billion, along with about $1.1 billion staked on its validators.
Solmate, which was rebranded from Brera Holdings earlier this year, plans to use this stack to earn returns on its treasury and to support Solana-based markets that handle tokenized stocks, government bonds and futures.
The two firms unveiled Solana infrastructure in the UAE in November, allowing local investors to stake assets in the region.
“As the combined entity’s staked treasury grows, so will its ability to land transactions for high-frequency traders — all in addition to generating stake dividends,” the release said. “Solmate’s and RockawayX’s infrastructure would provide the same services, not only for commerce, but also for everyday onchain transactions like consumer payments.”
SLMT shares traded nearly 6% higher at $2.51 in premarket trading Thursday.
