Solowin Partners with AlloyX in $350M Deal to Strengthen Stablecoin Networks in Emerging Regions

Solowin Completes $350M AlloyX Acquisition to Strengthen Stablecoin Presence in Emerging Markets

Hong Kong-based Solowin Holdings (SWIN) has finalized its $350 million all-stock acquisition of stablecoin infrastructure provider AlloyX, aiming to integrate its technology and talent to expand operations in emerging markets.

The acquisition incorporates AlloyX’s stablecoin application platform, real-world asset (RWA) tokenization tools, and global payments network into Solowin’s ecosystem. AlloyX’s founding team and strategic investors are under a 12-month lock-up, with an additional incentive structure tied to valuation milestones.

Peter Lok, Chairman and CEO of Solowin, described the acquisition as part of the company’s mission to build a “new financial ecosystem centered on stablecoins,” reflecting its strategic focus on enabling digital payments and enterprise adoption in emerging economies.

According to an SEC filing, AlloyX is an early-stage firm with limited operating history, and had not generated revenue as of March 31. The company earns revenue through its stablecoin payment infrastructure and RWA tokenization services, which support enterprise and institutional adoption of digital assets.

The stablecoin market has grown rapidly, now reaching a $280 billion market capitalization according to DeFiLlama. Tether (USDT) and Circle (USDC) continue to dominate, representing over 80% of the market, underscoring the central role of regulated stablecoins in the broader digital finance ecosystem.