Outside Source
The company, rebranded as Solmate, plans to stake SOL and run validator operations in Abu Dhabi as part of its pivot from sports ownership to a digital assets treasury company.
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Nasdaq-listed Brera Holdings is rebranding as Solmate after raising $300 million in an oversubscribed private investment in public equity (PIPE) to launch a Solana-focused digital asset treasury and infrastructure company.
The deal was backed by United Arab Emirates–based Pulsar Group, ARK Invest, RockawayX and the Solana Foundation, according to a Thursday announcement.
Brera, a sports ownership group with football clubs in Italy and across Europe, said Solmate will shift its core focus to a Solana-based digital asset treasury (DAT) and infrastructure business, accumulating and staking Solana (SOL) while also building validator operations in Abu Dhabi.
Marco Santori, a partner at Pantera Capital and former chief legal officer at Kraken, will lead the company, with economist Arthur Laffer and RockawayX CEO Viktor Fischer joining the board alongside two seats reserved for the Solana Foundation.
A PIPE, the financing method used by Solmate, is when a publicly traded company raises money by selling shares directly to private investors, usually at a discount.
This article first appeared at Cointelegraph.com News
