2 weeks ago
Solowin Holdings (SWIN), a publicly-traded concern holding firm, has announced it completed a $350 cardinal acquisition of stablecoin infrastructure supplier AlloyX, integrating its endowment and exertion arsenic it aims to bolster its enlargement into emerging markets.
The Hong Kong-based fiscal steadfast said successful a press merchandise that the woody integrates AlloyX’s infrastructure, including a stablecoin exertion platform, real-world plus (RWA) tokenization tools, and a planetary payments network, into Solowin’s ecosystem.
The acquisition, an all-stock deal, includes a 12-month lock-up play for AlloyX’s founding squad and strategical investors. It besides features an inducement operation based connected AlloyX’s valuation milestones
Solowin’s Chairman and CEO Peter Lok said the acquisition builds connected the company’s “vision for a caller fiscal ecosystem centered connected stablecoins.”
An SEC exhibit describes AlloyX arsenic an “early-stage institution with constricted history” that has “yet to make revenue” arsenic of March 31. It generated gross done its stablecoin outgo infrastructure and done real-world plus tokenization, the papers says.
The stablecoin ecosystem has been increasing exponentially implicit the past fewer years. It present bolsters a $280 cardinal marketplace capitalization according to DeFiLlama data, with Tether’s USDT and Circle’s USDC remaining the ascendant stablecoins making up implicit 80% of the sector.
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