Solmate to Establish Solana Hub in the UAE and Proposes Reverse Stock Split

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Release Time: 03/11/2026 04:46:03

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Summary

Solmate, a Nasdaq-listed company, is rebranding as Solmate Infrastructure PLC and shifting its focus to become a Solana infrastructure provider in the UAE, aiming to accelerate institutional adoption. The company plans to shut down two football teams to fund its Solana initiative in Abu Dhabi. A 10-for-1 reverse stock split is proposed, increasing the share price to $0.50, with a shareholder vote scheduled for April 7. CEO Marco Santori seeks to establish the company as a key player in the region’s digital economy. The project raised $300 million earlier this year with support from the Solana Foundation and Ark Invest. This development adds momentum to crypto-related news from the Middle East.

Odaily Planet Daily reports: Nasdaq-listed company Solmate (formerly Brera Holdings PLC) has announced that its board has approved a formal legal name change to Solmate Infrastructure PLC, aiming to transition into an institutional-grade Solana infrastructure provider based in Abu Dhabi. As part of the plan, the company will shut down two underperforming football teams from its existing sports portfolio to reallocate funds toward Solana infrastructure development in the UAE.

In addition, Solmate proposes a 1-for-10 reverse stock split to increase the par value of its Class A and Class B common shares from $0.05 to $0.50, a proposal requiring approval at the shareholder meeting on April 7. Solmate’s CEO, Marco Santori, stated that by consolidating its capital and corporate identity on Solana, the company is committed to becoming a central player in the region’s digital economy. Previously, the project secured a $300 million funding round in September 2025, with participation from the Solana Foundation, Ark Invest, and others. (The Block)

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