Publicly available investment holding company Solowin Holdings (SWIN), has announced that it has completed its $350 million acquisition for Stablecoin Infrastructure Provider Alloyx, and has integrated talent and technology aimed at strengthening its expansion into emerging markets.
The Hong Kong-based financial company said in a press release that the transaction integrates Alloyx’s infrastructure into the Sorowin ecosystem, including the Stablecoin application platform, real-world asset (RWA) tokenization tools and the global payments network.
The acquisition, all share deal, includes a 12-month lock-up period for the founding team of Alloyx and strategic investors. It also has an incentive structure based on Alloyx rating milestones
Solowin’s Chairman and CEO Peter Lok said the acquisition was based on a “vision for a new financial ecosystem centered around Stablecoins.”
The SEC exhibit explains that Alloyx is “not yet making revenue” as of March 31 and is an early-stage company with limited history. It generated revenue through Stablecoin Payment Infrastructure and Real World Asset Tokenization.
The Stablecoin ecosystem has grown exponentially over the last few years. Defilama data shows that it is currently strengthening its market capitalization of $280 billion, with Tether’s USDT and Circle’s USDC leaving the dominant stubcoin, accounting for more than 80% of the sector.
