Solowin Secures $350M AlloyX Acquisition to Expand Stablecoin Operations in Emerging Markets
Hong Kong-based Solowin Holdings (SWIN) has completed an all-stock acquisition valued at $350 million of stablecoin infrastructure provider AlloyX, aiming to integrate its technology and team to accelerate growth in emerging markets.
The acquisition brings AlloyX’s stablecoin application platform, real-world asset (RWA) tokenization tools, and global payments network into Solowin’s ecosystem. AlloyX’s founders and strategic investors are subject to a 12-month lock-up, with additional incentives linked to hitting valuation milestones.
Peter Lok, Solowin’s Chairman and CEO, said the move supports the company’s “vision for a new financial ecosystem centered on stablecoins,” emphasizing its goal to broaden digital payment infrastructure and enterprise adoption in underserved regions.
An SEC filing notes that AlloyX is an early-stage company with limited operating history and had not generated revenue as of March 31. Revenue is expected to come from its stablecoin payment infrastructure and RWA tokenization services, which provide foundational tools for enterprise digital asset use.
The stablecoin market has expanded rapidly, now reaching a $280 billion market capitalization according to DeFiLlama. Tether (USDT) and Circle (USDC) remain the dominant stablecoins, representing over 80% of the sector, highlighting the critical role of regulated stablecoins in the digital financial ecosystem.
