Solowin Holdings announced on January 3, 2025, a strategic investment in AlloyX Limited's US$10 million Pre-A funding round. This investment was made through a fund managed by Solowin’s subsidiary, Solomon JFZ (Asia) Holdings Limited. AlloyX is an Asia-based firm specializing in stablecoin infrastructure.
The funding round also saw participation from partners including Arbitrum Foundation, Offchain Labs, PMT Capital, Ming Capital, Fern Win Capital, Whitecove Capital, and Kiln SAS. AlloyX intends to utilize these funds to expand its operations into high-growth regions such as the UAE, ASEAN, and Africa.
Solowin's CEO, Shing Tak Tam, stated that this investment aligns with the company’s commitment to fostering innovation and growth within the global financial infrastructure sector. This move highlights the transformative potential of stablecoins in global finance and is expected to create value for Solowin’s shareholders.
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