Solmate Infrastructure, the rebranded Nasdaq-listed entity formerly known as Brera Holdings, has secured a $50 million purchase of
(SOL) tokens from the Solana Foundation at a 15% discount to an already historic low price during the recent crypto market turmoil. The transaction, announced October 14, 2025, will fund Solmate's infrastructure expansion in the UAE under the Solana Foundation's "Solana By Design" program, the GlobeNewswire release said. As part of the agreement, the Solana Foundation gains the right to nominate two directors to Solmate's board, deepening its governance influence, the release added.Simultaneously, Cathie Wood's Ark Invest disclosed an 11.5% stake in Solmate, following a $300 million private placement led by UAE-based Pulsar Group and participation from the Solana Foundation and RockawayX, as reported by
. Ark's investment includes 6.5 million shares from an oversubscribed PIPE financing in September and an additional 779,619 shares acquired later, according to the GlobeNewswire release. The firm's commitment marks the first regulated American ETF investment in a crypto infrastructure PIPE, the GlobeNewswire release noted.
Marco Santori, Solmate's CEO, emphasized the firm's focus on building "bare metal" infrastructure in Abu Dhabi, including high-performance servers designed to outpace traditional validator strategies, the GlobeNewswire release reported. The company aims to leverage its geographic position at the "crossroads of finance" to accelerate Solana's adoption in the Middle East, the release added.
The purchase of discounted
aligns with broader trends in the Solana ecosystem, where the foundation has facilitated over $3 billion in treasury holdings across more than a dozen public companies, a noted. Critics argue that such deals risk oversaturation and valuation pressure, while supporters highlight increased network demand and institutional confidence, the Forbes piece added.
Solmate's shares surged over 225% on September 19, 2025, following the announcement of its $300 million funding round, according to
. However, as of October 14, the stock had fallen 6% to $14.58, reflecting broader market volatility, and The Block reported the recent pullback. SOL's price has rebounded to over $244, up 20% this month, driven by growing institutional adoption, CoinDesk added.The Solana Foundation's strategy of discounted token sales has created a competitive landscape for digital asset treasuries (DATs). Companies like Forward Industries and Sharps Technology now hold over $1.5 billion and $430 million in SOL, respectively, the Forbes article observed. This proliferation underscores the foundation's aggressive push to solidify Solana's dominance, though it raises concerns about diluted benefits for early adopters, the Forbes piece warned.
Dubai's emergence as a crypto hub is further reinforced by Solana's recent launch of a Dubai-based Economic Zone, aimed at fostering innovation and regulatory clarity. The initiative, coupled with Solmate's infrastructure plans, positions the UAE as a strategic nexus for blockchain adoption.
As Solana's ecosystem expands, the interplay between discounted token sales, institutional stakes, and regulatory developments will likely shape the trajectory of both the network and its corporate partners.
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