Hassan Maishera
TL;DR
- SOL Strategies said it has entered a definitive agreement to buy HoudiniSwap for $18 million.
- This deal will create a new revenue stream and make SOL Strategies less reliant on market cycles.
SOL Strategies to Acquire Cross-chain Swap Aggregator Houdini for $18 Million
Nasdaq-listed Solana-focused treasury firm SOL Strategies has announced a definitive agreement to acquire HoudiniSwap in a deal valued at $18 million, marking a strategic expansion beyond its core staking and validator operations.
HoudiniSwap operates as a non-custodial, privacy-focused cross-chain swap aggregator, offering users access to optimized trading routes across both centralized and decentralized exchanges, as well as blockchain bridges.
The platform generated approximately $13 million in revenue over the past year, underscoring its growing role in cross-chain liquidity solutions.
According to the company, the acquisition aligns with its broader objective of positioning Solana as a foundational layer for institutional finance.
By incorporating transaction routing infrastructure, cross-chain liquidity services, and software-driven revenue streams, SOL Strategies aims to build a more diversified and resilient business model tailored to institutional participation in on-chain markets.
Chief Strategy Officer Stephen Ehrlich noted that the move introduces an additional source of revenue while strengthening the firm’s financial stability. He noted that although staking remains central to the company’s operations, integrating scalable technology and transaction-based income will enhance margins, improve cash flow consistency, and reduce dependence on market cycles.
The $18 million transaction will be structured with $8.25 million in cash, $5.75 million issued as a six-month promissory note, and $4 million in STKE shares. These shares will be priced based on a 90-day volume-weighted average ahead of the deal’s closing.
SOL Strategies confirmed that it will not liquidate any of its SOL holdings to finance the acquisition.
As of its latest disclosures, the company holds more than 524,000 SOL in its treasury and manages approximately 3.8 million SOL in delegated assets. It also operates several enterprise-grade Solana validators.
