Abu Dhabi-focused Solana infrastructure company Solmate (SLMT) has signed a non-binding term sheet to acquire digital asset company RockawayX in an all-stock deal that would create an institutional crypto group with more than $2 billion in assets and third-party participation.
The combined company would merge 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 would continue to trade under the symbol SLMT.
The deal, which is expected to close in the first half of 2026, still requires definitive agreements, regulatory clearance and shareholder approval.
Solmate CEO Marco Santori would lead the group, while RockawayX director Viktor Fischer would lead the RockawayX subsidiary and serve as CEO of Solmate, according to a press release shared with CoinDesk.
RockawayX, the blockchain arm of venture capital firm Rockaway Capital, offers market making, lending and “solution” services used by major cross-chain bridges like Wormhole and Debridge, as well as venture and credit funds that together oversee about $1.04 billion, along with about $1.1 billion staked to its validators.
Solmate, which changed its name from Brera Holdings earlier this year, plans to use that stack to earn yield from its treasury and support Solana-based exchanges that handle stocks, treasuries and tokenized futures.
The two companies unveiled Solana’s infrastructure in the United Arab Emirates in November, which will allow local investors to participate in assets within the region.
“As the combined entity’s staked treasury grows, so will its ability to transact for high-frequency traders, all in addition to generating staking returns,” the statement read. “Solmate and RockawayX’s infrastructure would provide these same services, not only for commerce, but also for everyday on-chain transactions, such as consumer payments.”
SLMT shares traded nearly 6% higher at $2.51 in pre-market trading on Thursday.
