Solmate Buys $50M in Solana Tokens to Power UAE Infrastructure Buildout

CN
9 hours ago

The Abu Dhabi-based firm, Solmate Infrastructure (Nasdaq: SLMT), struck the deal during what it called “the worst liquidation event in crypto history,” nabbing the solana ( SOL) tokens at a 15% discount to already battered market prices.

In the release published Tuesday, the company said the tokens will power its bare-metal infrastructure operations in the UAE, anchoring Solmate’s role in the region’s digital transformation.

The discounted buy wasn’t just opportunistic — it was strategic. Under the Solana Foundation’s “ Solana By Design” program, the foundation will have the right to nominate up to two directors to Solmate’s board, cementing closer alignment between the two entities.

Cathie Wood’s Ark Invest also disclosed a hefty 11.5% stake in Solmate Infrastructure, signaling a vote of confidence from one of Wall Street’s most high-profile crypto advocates. The investment marks Ark’s first entry into a regulated American exchange-traded fund (ETF) participating in a crypto infrastructure private investment round.

“We bought the dip,” quipped Solmate CEO Marco Santori. “Our infrastructure-first strategy keeps us ahead of treasury companies that rely on financial engineering. With our base in the UAE — the Capital of capital — we’re positioned at the crossroads of global finance,” he said.

Backed by Ark Invest, RockawayX, Pulsar Group, and other international investors, Solmate plans to process Solana transactions faster and more efficiently than competitors. Its hardware-driven model differentiates it from firms that only manage digital assets on paper.

The purchase aligns Solmate’s ambitions with the UAE’s national agenda to become a global digital innovation hub. As crypto infrastructure firms flock to the Gulf, Solmate is betting that its Solana-powered backbone will keep it ahead of the pack.

FAQ 🧭

  • What did Solmate buy from the Solana Foundation?
    Solmate acquired $50 million in Solana ( SOL) tokens directly from the Solana Foundation.
  • Why did Solmate make the purchase?
    The tokens will be used to power Solmate’s growing infrastructure operations in the UAE.
  • Who else is investing in Solmate Infrastructure?
    Cathie Wood’s Ark Invest holds about an 11.5% stake in Solmate Infrastructure.
  • Where is Solmate based?
    Solmate Infrastructure is headquartered in Abu Dhabi, United Arab Emirates, positioning it at the center of the region’s digital economy.

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