Workflow
Solowin and Partners Invest US$10M in AlloyX's Pre-A Funding Round
SWINSolowin(SWIN) GlobeNewswire·2025-01-03 22:00

Company Overview - SOLOWIN HOLDINGS (NASDAQ: SWIN) is a Hong Kong-based financial services firm offering comprehensive solutions for high-net-worth and institutional investors, including investment banking, wealth management, asset management, and Web3 solutions [5] - The company's subsidiary, Solomon JFZ (Asia) Holdings Limited, is one of Hong Kong's first regulated virtual asset service providers, operating the Solomon VA+ platform, which integrates traditional and virtual asset trading with wealth management services [5] Strategic Investment - SOLOWIN announced a strategic investment in AlloyX Limited, an Asia-based stablecoin infrastructure firm, through its subsidiary Solomon JFZ (Asia) Holdings Limited [1] - AlloyX secured a US10millionPre−Afundinground,supportedbySOLOWINandotherpartnersincludingArbitrumFoundation,OffchainLabs,PMTCapital,MingCapital,FernWinCapital,WhitecoveCapital,andKilnSAS[2]−ThefundswillbeusedbyAlloyXtoexpandoperationsintheUAE,ASEAN,andAfrica,targetinghigh−growthregions[2]IndustryContext−TheinvestmentalignswithSOLOWIN′scommitmenttofosteringinnovationintheglobalfinancialinfrastructuresector,particularlyinthestablecoinpaymentsecosystem[3]−RecentdevelopmentsinthestablecoinpaymentsspaceincludeStripe′sacquisitionofBridgefor10 million Pre-A funding round, supported by SOLOWIN and other partners including Arbitrum Foundation, Offchain Labs, PMT Capital, Ming Capital, Fern Win Capital, Whitecove Capital, and Kiln SAS [2] - The funds will be used by AlloyX to expand operations in the UAE, ASEAN, and Africa, targeting high-growth regions [2] Industry Context - The investment aligns with SOLOWIN's commitment to fostering innovation in the global financial infrastructure sector, particularly in the stablecoin payments ecosystem [3] - Recent developments in the stablecoin payments space include Stripe's acquisition of Bridge for 1.1 billion and BVNK's 50millionSeriesBfundingroundvaluedat50 million Series B funding round valued at 750 million, highlighting the transformative potential of stablecoins in global finance [3] AlloyX Overview - AlloyX is building next-generation payments infrastructure, bridging traditional banking with blockchain technology [4] - The platform enables businesses to send and receive stablecoin payments, facilitate currency exchanges, and integrate crypto payments while maintaining regulatory compliance [4] - AlloyX leverages institutional-grade custodial wallets, multi-chain security, and tokenization technology to empower businesses to tokenize real-world assets and operate across diverse financial ecosystems [4] - With licenses spanning virtual assets, payments, and trusts, AlloyX serves institutional and retail clients in over 70 countries [4]