In a move that’s sending shockwaves through both sports and crypto circles, Nasdaq-listed Brera Holdings announced that it’s transforming into Solmate to embrace the Solana ecosystem from here on. The Dublin-based sports group, once focused on European soccer clubs like Italy’s Brera FC, said that it has secured a $300 million private investment in public equity (PIPE) to supercharge its new Solana treasury.
Betting big on Solana’s speed
Brera’s decision to pivot stems from a strategic conviction that Solana’s high-speed, low-cost blockchain outpaces traditional finance and even legacy sports investments. “The future of global finance lies at the intersection of sports, entertainment, and Web3,” the company stated in its press release.
Solana’s ecosystem is exploding, it boasts over 15 million SOL that is held by institutions currently. Brera aims to leverage this momentum, retaining select soccer assets while channeling resources into digital innovation.
Solmate CEO, Marco Santori said, “Solmate is not just another treasury. It will execute on a durably differentiated strategy in a crowded field of look-alike DATs by building real crypto infrastructure in the UAE.”
Growing SOL treasuries
Solmate’s crown jewel is its freshly minted Solana treasury, funded entirely by the $300 million PIPE deal led by UAE’s Pulsar Group, alongside ARK Invest, RockawayX, and the Solana Foundation. This war chest will fuel aggressive SOL accumulation and staking, alongside launching high-performance validators in Abu Dhabi.
The company has already inked a letter of intent with the Solana Foundation for discounted SOL access, ensuring cost-efficient scaling. Longer-term goals include a dual listing on a UAE exchange to tap Middle Eastern capital, positioning Solmate as a bridge between East and West in the Solana treasury game.
Brera is the latest in a flurry of Solana treasury announcements this week, amplifying the token’s institutional appeal. Helius raised $500 million towards its own SOL treasury, whereas Forward Industries bought 6.8 million SOL tokens, signaling the institutional frenzy. Brera’s stock skyrocketed over 225% post the announcement, but retreated in after-hours trade.
Source: Yahoo Finance