Solowin Finalizes $350M AlloyX Deal to Boost Stablecoin Capabilities Across Emerging Economies

Solowin Finalizes $350M AlloyX Acquisition to Boost Stablecoin Operations in Emerging Markets

Hong Kong-based Solowin Holdings (SWIN) has completed its $350 million all-stock acquisition of stablecoin infrastructure firm AlloyX, integrating the company’s technology and team as part of a push into emerging markets.

The deal brings AlloyX’s stablecoin application platform, real-world asset (RWA) tokenization tools, and global payments network into Solowin’s ecosystem. Under the terms of the acquisition, AlloyX’s founding team and strategic investors are subject to a 12-month lock-up, with additional incentives tied to hitting valuation milestones.

Peter Lok, Chairman and CEO of Solowin, described the acquisition as a step toward building a “new financial ecosystem centered on stablecoins,” reflecting the firm’s focus on expanding digital payment infrastructure in underserved markets.

An SEC filing notes that AlloyX is an early-stage company with limited operating history, having not yet generated revenue as of March 31. Its income streams include stablecoin payment infrastructure services and real-world asset tokenization.

The stablecoin market has seen rapid growth, now boasting a $280 billion market capitalization according to DeFiLlama data. Tether (USDT) and Circle (USDC) remain the sector’s largest players, accounting for more than 80% of overall market share, emphasizing the importance of regulated stablecoins in the digital asset ecosystem.