- Solmate secures a $300 million PIPE with ARK Invest and Solana Foundation support.
- Marco Santori was appointed CEO as Solmate develops validator hubs in Abu Dhabi.
- Dual listings in the US and UAE establish capital distribution for the Solana treasury.
Marking an innovative move, Brera Holdings PLC announced its rebranding to Solmate, a digital asset treasury (DAT) and infrastructure company, based in Solana. The decision follows an oversubscribed $300 million PIPE led by UAE-based Pulsar Group, with participation from ARK Invest, RockawayX, and the Solana Foundation. The PIPE, or private investment in public equity, enables a listed company to raise capital directly from private investors, typically at a discounted share price.
This capital will fund Solmate’s acquisition and staking of Solana tokens and the construction of validator operations in Abu Dhabi. The move signals how public firms are repositioning as digital asset treasuries focused on Solana, raising a key question: Will dual listings across the U.S. and UAE unlock greater capital access for blockchain-focused companies?
Leadership Changes and Institutional Involvement
The leadership shift strengthens Solmate’s regulatory and institutional profile. Marco Santori, former Chief Legal Officer at Kraken and partner at Pantera Capital, will lead the company as Chief Executive Officer. Economist Arthur Laffer and RockawayX CEO Viktor Fischer will join the board. The Solana Foundation will hold the right to appoint two additional directors, expanding ecosystem oversight.
In a statement, Santori emphasized that Solmate is not just another treasury and will execute on a durably differentiated strategy in a crowded field of look-alike DATs by building real crypto infrastructure in the UAE.” He further added that stakeholders have profound, long-term conviction in the Solana ecosystem and will demand that the company accumulate SOL through market. Solmate is well-positioned as Solana adoption accelerates across institutional markets, DeFi, NFTs, and AI.
Related: DeFi Development Expands Solana Holdings, Boosts Staking Strategy
Solana’s Ecosystem and Dual Listing Strategy
Solmate will continue to be listed on the Nasdaq exchange in addition to the UAE exchange. This two-tiered model increases its pool of investors, attracting both U.S. and Middle Eastern capital within legal frameworks. The identification of infrastructure in Abu Dhabi fits into the regional plans, and several frameworks, such as VARA, are available to facilitate the use of blockchain.
The plan is based on Solana’s momentum. The growing blockchain is now Solana, which receives more transactions and generates more on-chain revenue than other networks. Unlike Bitcoin, Solana natively generates yield, adding more developers each month than any other chain.
Solana’s strategic reserve further reflects institutional adoption. Data shows 17 entities now hold 17.04 million SOL, equal to 2.96% of supply and valued at $4.17 billion. A combined staking reserve of 9.35 million SOL represents 1.62% of the supply and earns a 7.7% yield. Reserves rose from 16.2 million to 17 million SOL in one week, at an average price of $244.82.
A background to Solmate’s attempt is provided by two recent high-profile treasury initiatives on Solana, which are Forward Industries (FORD) and Helius Medical Technologies (HSDT). These treasuries deepen institutional engagement with Solana, thus incentivizing validators in new regions.
Despite strong capital flows, Solmate still faces some hazards: volatility in SOL’s price will affect the treasury value. On the other hand, any changes in regulations in the U.S. and the UAE would also challenge their compliance. Infrastructure execution in the form of validator performance, security, and investor trust remains equally instrumental. Solmate will be determined by how successful their double listing mechanism becomes and how well they can balance aggressive accumulation with calm governance.
