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- The Nasdaq-listed firm plans to deploy over $50 million in SOL tokens purchased from the Solana Foundation for its validator operations.
- The company outlined an “infrastructure-first” strategy and an aggressive M&A plan to acquire firms that enhance its Solana treasury model.
Solmate Infrastructure, the Solana treasury firm, has issued an update on its validator operations, data center selections, and much more. The company, formerly known as Brera Holdings, announced that it has selected a data center in the UAE and will soon begin testing what could become the first high-performance Solana validator in the Middle East. This has sparked a renewed interest in SOL, with its price surging 4% to $193 levels as of press time.
Nasdaq-Listed Solana Treasury Firm Reveals Key Plans
Nasdaq-listed Solmate has announced plans to use over $50 million worth of discounted Solana (SOL) tokens. The firm purchased from the Solana Foundation last week to test its validator operations.
The company emphasized that its “infrastructure-first efforts” set it apart from traditional digital asset treasuries (DATs), which often depend on financial engineering for growth. Market experts have also stated that allocating just 10% of the portfolio to SOL could boost returns by 44%, as mentioned earlier.
Additionally, Solmate outlined an “aggressive M&A strategy” aimed at acquiring companies that align with and strengthen its treasury-focused business model. Speaking on the development, Marco Santori, Solmate CEO and former chief legal officer at crypto exchange Kraken, said:
“We are targeting businesses for which our SOL treasury will be fuel for their engine of growth — just like it is for ours — and will use that growth to accrete more SOL-per-share for Solmate investors.”
Solmate raised $300 million last month through a private investment in public equity (PIPE) deal that included participation from Cathie Wood’s ARK Invest, Pulsar Group, RockawayX, and the Solana Foundation. The company has since negotiated an amendment with PIPE participants, with a registration statement expected to be filed by November 22.
According to the Strategic SOL Reserve, Solmate currently holds 1.21 million SOL. This makes it the sixth-largest publicly listed Solana digital asset treasury. It trails Forward Industries, Solana Company, DeFi Development Corp, Sharps Technology, and Upexi.
Financial Giant Fidelity Offers SOL Trading
Fidelity has expanded its crypto offerings by adding support for SOL trading across its platforms. The move makes the Solana network’s native token available to both institutional and retail investors. SOL can now be bought, sold, and traded on Fidelity Crypto, Fidelity Crypto for IRAs, Fidelity Crypto for Wealth Managers, and Fidelity Digital Assets, the firm’s institutional investment platform.
The inclusion of SOL on Fidelity’s platform highlights the maturity attained by the altcoin as an asset class. With a market capitalization exceeding $105 billion, Solana currently ranks as the sixth-largest cryptocurrency by market value.
Developers within the SOL ecosystem maintain that the network still has significant growth potential. They aim to establish it as the foundation for a new generation of internet-based capital markets to rival Wall Street.
