"Solana-backed platform, Solmate, introduces a $300 million SOL treasury with support from ARK Invest in the United Arab Emirates"
The Solana blockchain network is making waves in the digital transformation plans of the United Arab Emirates (UAE), thanks to Solmate, a new Solana digital asset treasury. Solmate, formerly known as Brera Holdings PLC, has recently secured a $300 million funding round led by Pulsar Group, a UAE advisory firm specialising in blockchain and emerging technology.
Solmate, under the leadership of CEO Marco Santori, a former Chief Legal Officer at Kraken, aims to make Solana central to the region's blockchain strategy. The focus includes building partnerships, supporting developers, and driving institutional adoption.
The funding will be used to grow Solmate into a treasury that accumulates and stakes SOL, Solana's native cryptocurrency, through market cycles. Solmate also plans to stake SOL, run infrastructure in Abu Dhabi, and build new revenue streams.
One of the key strategies for Solmate is to focus on infrastructure and staking, rather than speculation. This approach aligns with the vision of Alyazi Al Khattal, CEO of Pulsar Group, who is working to position Solana within the country's digital marketing plans.
Solmate's entry adds more institutional weight behind Solana's momentum. Industry data shows Solana's network revenue and developer activity outpacing competitors. The network is currently processing more transactions than any other blockchain, a testament to its growing popularity and potential.
To further bolster its position, Solmate plans to host a high-performance Solana validator in Abu Dhabi to maximise native yield opportunities. This move is part of the UAE's strategy to make Solana a hub for adoption.
In addition to Pulsar Group and ARK Invest, early Solana backer RockawayX also participated in the funding round for Solmate. The Solana Digital Asset Treasury, Solmate, is led by an investment group backed by Ark Invest, Pulsar Group, and the Solana Foundation. Known further investments related to this group include building revenue-generating infrastructure such as deploying bare metal servers for Solana validators in Abu Dhabi.
Solmate is committed to growing SOL holdings, regardless of market conditions. This long-term strategy, coupled with its focus on infrastructure and staking, positions Solmate and Solana well for continued growth in the UAE and beyond.
In the coming months, Solmate expects a dual listing on both Nasdaq and UAE exchanges, further solidifying its position in the global blockchain landscape. As Solana continues to break transaction records and attract significant investment, it's clear that the future of this blockchain network is bright.
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