Solowin Holdings (SWIN), a publicly-traded funding holding agency, has introduced it accomplished a $350 million acquisition of stablecoin infrastructure supplier AlloyX, integrating its expertise and know-how because it goals to bolster its growth into rising markets.
The Hong Kong-based monetary agency stated in a press launch that the deal integrates AlloyX’s infrastructure, together with a stablecoin software platform, real-world asset (RWA) tokenization instruments, and a worldwide funds community, into Solowin’s ecosystem.
The acquisition, an all-stock deal, features a 12-month lock-up interval for AlloyX’s founding crew and strategic buyers. It additionally options an incentive construction based mostly on AlloyX’s valuation milestones
Solowin’s Chairman and CEO Peter Lok stated the acquisition builds on the corporate’s “imaginative and prescient for a brand new monetary ecosystem centered on stablecoins.”
An SEC exhibit describes AlloyX as an “early-stage firm with restricted historical past” that has “but to generate income” as of March 31. It generated income via its stablecoin fee infrastructure and thru real-world asset tokenization, the doc says.
The stablecoin ecosystem has been rising exponentially over the previous few years. It now bolsters a $280 billion market capitalization in accordance with DeFiLlama information, with Tether’s USDT and Circle’s USDC remaining the dominant stablecoins making up over 80% of the sector.
