Solowin Acquires AlloyX in $350M Deal to Expand Stablecoin Infrastructure

Solowin Holdings (SWIN) has finalized a $350 million all-stock acquisition of AlloyX, a stablecoin infrastructure provider, marking a strategic push into emerging markets. The deal integrates AlloyX's technology stack—including stablecoin applications, RWA tokenization tools, and payment networks—into Solowin's ecosystem. A 12-month lock-up period and performance-based incentives are attached to the transaction.

Hong Kong-based Solowin frames the move as foundational to its vision for a stablecoin-centric financial ecosystem. AlloyX, though pre-revenue as of March 31 per SEC filings, brings operational infrastructure for stablecoin payments and asset tokenization. The stablecoin sector now commands a $280 billion market cap, with Tether (USDT) and Circle (USDC) dominating 80% of the space.