PANews, December 4—According to CoinDesk, Solana infrastructure company Solmate (stock code SLMT), which focuses on the Abu Dhabi market, has signed a non-binding term sheet to acquire digital asset company RockawayX via an all-stock transaction. The acquisition will create an institutional crypto group with over $2 billion in assets under management and third-party interests. The merged company will integrate RockawayX’s infrastructure, liquidity, and asset management businesses into Solmate, which is transitioning from passive digital asset fund management to an operational crypto business, and will continue to trade under the stock code SLMT.
Solmate CEO Marco Santori will lead the group, while RockawayX CEO Viktor Fischer will be responsible for operating the RockawayX subsidiary and will serve as executive chairman of Solmate. RockawayX is the blockchain division of venture capital firm Rockaway Capital, providing on-chain market making, lending, and other services. The company also manages venture and credit funds, which collectively oversee about $1.04 billion in assets, with an additional $1.1 billion in assets staked on its validator nodes.
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