Solana treasury giant Solmate is making a bold move. The Abu Dhabi-based company signed a nonbinding term sheet to acquire RockawayX in an all-stock deal, creating a unified platform for infrastructure, liquidity, and asset management. Together, the combined entity would manage over $2 billion in assets.
The merger would bring RockawayX’s operations under Solmate’s roof, including validator infrastructure, on-chain liquidity, and its venture and credit funds. Staking, hardware, market-making, and asset-management lines would now operate as a single, integrated business.
The deal is pending definitive agreements and regulatory and shareholder approvals, expected in 2026. The two companies began collaborating last month by launching new Solana validator infrastructure in the UAE, allowing institutions to stake locally.
Beyond staking, the merger positions the combined firm to offer latency-sensitive services for exchanges and high-frequency traders, with Abu Dhabi emerging as a potential hub. RockawayX has been investing in early-stage crypto infrastructure and DeFi projects since 2018, giving the firm deep roots in the ecosystem.
RockawayX currently manages two venture funds and a credit fund, totaling over $1 billion in combined investments and staked assets. Solmate’s stock responded immediately, climbing more than 6% in early trading and eventually rallying 11% to $2.62.
CEO Marco Santori said the merger would be mutually beneficial: RockawayX’s business lines will expand Solmate’s treasury, and Solmate’s treasury will grow RockawayX’s operations. Under the terms of the not-yet-binding deal, expected to close in Q1 2026, Solmate would acquire RockawayX’s equity.
The combined company will trade under the ticker SLMT on Nasdaq, with RockawayX continuing as a subsidiary. Santori, formerly Kraken’s chief legal officer, will remain CEO, while Viktor Fischer will continue leading the RockawayX subsidiary.
The move reflects a broader trend in digital asset treasury evolution. Firms are now diversifying beyond the Michael Saylor-inspired model of simple crypto holdings. Major corporate holders are expanding into revenue-generating services, infrastructure, and venture investments.
Last week, Ethereum treasury firm ETHZilla took a 20% stake in automotive finance AI startup Karus for $10 million. ETHZilla plans to leverage Karus’s AI underwriting models to issue on-chain, tokenized auto-loan portfolios, signaling that digital asset treasuries are aggressively branching into new financial frontiers.
