Solana Treasury Firm Solmate Signs Deal to Acquire RockawayX in $2B Crypto Infrastructure Merger

TLDR:

• Solmate acquires RockawayX in all-stock deal creating $2B crypto infrastructure giant based in Abu Dhabi
• RockawayX manages $1.1B in staked assets plus $771M Fund I and $162M Fund II venture capital portfolios
• Combined entity targets high-frequency trading services through low-latency UAE validator infrastructure
• Blockchain infrastructure market projected to grow from $20B in 2024 to $390B by 2032 at 43.6% CAGR

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Solmate Infrastructure has signed a non-binding term sheet to acquire RockawayX in an all-stock transaction. The deal would create a unified crypto enterprise with over $2 billion in combined assets under management and third-party stake. 

RockawayX brings expertise in infrastructure deployment, liquidity provision, and asset management to the table. Solmate trades on Nasdaq under ticker SLMT and maintains strategic operations in Abu Dhabi.

Deal Structure Positions Abu Dhabi as Staking Hub

The transaction would transfer all RockawayX equity to Solmate through a stock-only arrangement. 

Marco Santori remains as Solmate CEO while Viktor Fischer continues leading RockawayX as a subsidiary. Fischer would also take the role of Executive Chairman at Solmate when the deal closes. Jakub Havrlant from Rockaway Capital joins the Solmate board as part of the agreement.

RockawayX operates two venture funds and one credit fund with substantial holdings. 

Fund I manages approximately $771 million while Fund II oversees $162 million as of September 2025. The credit fund holds roughly $103 million in assets as of October 2025. Around $1.1 billion in assets are currently staked to RockawayX validators.

The combined entity plans to expand validator operations in the UAE. Solmate and RockawayX launched high-performance Solana infrastructure in the region during November. Regional investors can now stake assets locally for the first time. 

The infrastructure provides reduced latency for exchanges and traders operating in Middle Eastern markets.

Abu Dhabi’s geographic position creates advantages for transaction ordering across three continents. The UAE government supports blockchain development through regulatory clarity and capital access.

Solmate expects the location to serve as a primary hub for Solana ecosystem staking globally.

Asset Management and Liquidity Operations Drive Revenue Model

RockawayX has invested in digital asset infrastructure since 2018. The portfolio includes early positions in Kamino, Morpho, Exponent, and OnRe. These protocols have become core components of decentralized finance infrastructure. 

Solmate intends to maintain strategic investments in early-stage blockchain companies and protocols.

The liquidity division operates as an on-chain market maker for major DeFi protocols. RockawayX runs one of few scaled solver operations in the industry. The team settles large transaction volumes for cross-chain bridges including Wormhole and Debridge. 

A market-neutral private credit fund lends capital to market makers and DeFi protocols.

Solmate plans to generate treasury yield beyond staking through these credit operations. The infrastructure supports high-frequency trading services that command premium pricing. 

Validators can land transactions for traders seeking performance advantages in millisecond-sensitive markets.

The blockchain infrastructure market reached $20 billion in 2024. Projections suggest growth to $390 billion by 2032 at a 43.6% compound annual growth rate. 

Solana processed over one billion transactions in 2024 with total value locked exceeding $8 billion across DeFi protocols alone. Transaction volumes included tokenized stocks, treasuries, and commodity futures.

The deal requires execution of binding documents plus regulatory and shareholder approvals. Closing is expected during the first half of 2026. Current RockawayX founders retain rights to future carried interest payments from Fund I. The combined entity continues trading under SLMT on Nasdaq.

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