$SOL Strategies is acquiring privacy-focused cross-chain aggregator HoudiniSwap for $18 million in cash, notes, and stock to build its Solana treasury and routing stack for institutions.
According to a report by The Block, $SOL Strategies has signed a definitive agreement to acquire HoudiniSwap for $18 million to continue building its Solana-centric infrastructure and services stack.
Cash, banknotes and stock funds HoudiniSwap takeover
Terms of the transaction include $8.25 million in cash, $5.75 million in six-month promissory notes, and $4.0 million in notes. $SOL Strategies’ own STKE shares. The equity portion is calculated using the volume-weighted average STKE price over the 90 business days prior to the close of trading.
$SOL Strategies, which trades on the Nasdaq under the ticker STKE and on the Canadian Securities Exchange under the ticker HODL, describes itself as a Solana validator and treasury platform for institutional investors with approximately $94 million worth of funds. $SOL Owned by the company as of late 2025.
The company has previously used acquisitions and structured financing to expand its business, including acquiring Laine, one of Solana’s largest independent validators, and securing capital commitments of up to $500 million for acquisitions and stock acquisitions. $SOL On behalf of institutional clients.
Privacy-friendly cross-chain routing introduced to listed vehicles
HoudiniSwap is a non-custodial, privacy-focused cross-chain swap and aggregation platform that allows users to privately route trades between centralized and decentralized exchanges and blockchain bridges.
The service uses Monero as a “tunnel” asset, moving funds into XMR and back to the target asset, breaking the visible on-chain link between sending and receiving wallets. This makes it much more difficult for analytics companies to track flows end-to-end.
Documentation and marketing materials emphasize that HoudiniSwap “does not store, store, transmit, or route user funds” and instead acts as a liquidity aggregator and conduit between vetted exchanges and bridges, positioning the product as a compliant alternative to illegal mixers.
HoudiniSwap has generated approximately $13 million in revenue over the past year on the back of growing demand for private cross-chain swaps across more than 100 supported networks and assets, according to figures cited regarding the acquisition.
In a recent crypto.news overview, $SOL Strategies’ public market strategy is described as consolidating Solana infrastructure, validators, and adjacent tools into a single listing vehicle for institutions.
A separate crypto.news analysis details how the company’s $500 million staking facility intends to be reborn. $SOL This plan may intersect with cross-chain liquidity from HoudiniSwap.
Another crypto.news feature of $SOL The Strategies validator and finance platform noted that the $18 million HoudiniSwap deal is a niche it is currently seeking to fill, with the company viewing M&A as a “core growth lever” and identifying privacy-preserving routing and cross-chain tools as strategic gaps.
