Solmate is moving to acquire RockawayX through an all stock deal, setting the stage for a new institutional scale Solana focused powerhouse valued at about two billion dollars.

The Abu Dhabi based Solana infrastructure company, has signed a non binding term sheet to bring RockawayX fully under its umbrella. Once completed, the combined entity will manage more than two billion dollars in assets, blending Solmate’s shift from passive fund management toward a more operational crypto business with RockawayX’s proven strengths in infrastructure, liquidity services, and asset management. The merged group will continue trading under the ticker SLMT.

Marco Santori will lead the new organization as Solmate’s CEO, while RockawayX CEO Viktor Fischer will oversee the RockawayX division and also take on the role of executive chairman at Solmate. RockawayX, the digital asset arm of Rockaway Capital, is known for its on chain market making, lending operations, and fund management. Its venture and credit funds currently manage around one point zero four billion dollars, with another one point one billion dollars delegated across its validator network.