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Brera Holdings Completes $300M PIPE and Rebrands to Solmate

Highlights:

  • Brera Holdings completes rebranding to Solmate after finalising a $300 million PIPE round.
  • Pulsar Group led the fundraising round with support from Solana Foundation, RockawayX, and ARK Invest.
  • Solmate will combine Brera Holdings’ multi-club sports ownership business with its new crypto venture.

Ireland-based and Nasdaq-listed company Brera Holdings has rebranded to Solmate, a Solana-based digital asset treasury (DAT) and a crypto infrastructure firm. According to a September 19 press release, the rebranding follows a $300 million oversubscribed private investment in public equity (PIPE) financing round.

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Pulsar Group, a UAE-based blockchain advisory firm, led the PIPE financing round, with support from other leading companies like Solana Foundation, RockawayX, and ARK Invest. Notably, Marco Santori, a renowned attorney and former Chief Legal Officer (CLO) at Kraken, will assume the role of Solmate’s Chief Executive Officer (CEO).

Additionally, Viktor Fischer, RockawayX’s CEO, and Dr Arthur Laffer, a legendary economist and creator of the Laffer Curve, will join Santori on Solmate’s board. Meanwhile, Solmate will not abandon Brera Holdings’ multi-club sports ownership business. Instead, it will integrate it alongside the crypto venture.

Solmate Plans for a Robust SOL Holding

With strong support from the Solana Foundation and UAE capital networks, Solmate aims to become a top Solana infrastructure company. To drive growth, Solmate plans to build up its SOL holdings, aiming for strong per-share value over a long interval.

Aside from accumulating SOL, the Solana-focused firm also plans to deploy crypto infrastructure projects in the UAE. One of its first major initiatives entails developing bare metal servers in Abu Dhabi. Solmate noted that the servers will be optimised to outperform standard DAT validator setups, making it possible for regional investors to capture Solana’s native staking yields more effectively.

Solana Continues to Attract Institutional Interest

Solmate stated that its interest in Solana stems from the network’s impressive records as one of the fastest-growing blockchains, with the highest number of processed transactions and on-chain revenue. Unlike Bitcoin (BTC), Solana natively generates yield through staking.

Every month, this method of yield generation attracts large numbers of new developers to the Solana ecosystem. Meanwhile, some market experts have predicted that Solana could outpace Bitcoin and Ethereum (ETH) in growth metrics in the next three years. It remains to be seen how events unfold as other competitors are pushing hard to maintain relevance.

Solmate Leadership Board Reacts as Brera Holdings Completes Rebranding Process

Marco Santori noted that Solmate will not operate like every other Solana treasury. He emphasised building a durably differentiated strategy for real crypto infrastructure in the UAE.

The CEO added:

“Our stakeholders have long-term conviction in the Solana ecosystem and will demand that we accumulate SOL through bull and bear markets alike. Solmate is well-positioned as Solana adoption accelerates across institutional markets, DeFi, NFTs and AI.”

Dr Arthur Laffer explained that reliable money has remained the basis for building strong economies. The legendary economist believes that digital assets qualify as modern versions of his reliable money concept. Pulsar Group CEO Alyazi Al Khattal stated that his company wants Solana to play a significant role in the UAE’s digital future. By supporting Solmate, the CEO believes they can boost adoption and drive major blockchain innovations.

Viktor Fischer, another member of Solmate’s board and CEO of RockawayX, noted that his company began supporting Solmate from the onset as one of the leading blockchains for capital markets. “We expect to harness top-performing, bare metal staking and battle-tested yield strategies to deliver one of the best yields on SOL in Solmate treasury,” he added.

SOL Spikes Slightly as Brera Holdings Finalise $300M PIPE for Solana Acquisition

Solana is changing hands at $245.29 following a slight 0.3% upswing in the past 24 hours. Within the same timeframe, it fluctuated between $243.15 and $252.78, with a trading volume of $9.076 billion. SOL’s Fear & Greed Index has remained neutral at 52 despite a bullish sentiment.

Source: CoinMarketCap

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