Key Highlights
- SOL Strategies has entered into a definitive agreement to buy Houdini Swap for $18 million through cash, stock, and notes.
- The deal comes with an additional earn-out of $10 million based on future performance targets.
- This is SOL Strategy’s first major step towards cross-chain liquidity and transaction infrastructure.
SOL Strategies Inc., a publicly traded company focused on expanding the Solana ecosystem, announced today that it has signed a definitive agreement to acquire Houdini Swap LLC, a non-custodial, privacy-focused cross-chain swap aggregator, for $18 million in a mix of cash, promissory notes, and equity.
According to the announcement, the acquisition indicates the expansion of SOL Strategies beyond its core validator operations and staking activities into advanced transaction directing infrastructure and cross-chain liquidity solutions.
Acquisition details
Of the total purchase price of $18 million, $8.25 million is in cash, $5.75 million is a six-month promissory note, and $4 million is in shares estimated at a 90-day VWAP before closing.
Additionally, the deal includes $100,000 in warrants, and the shares are subject to a four-month hold period. It also features a two-year earn-out of up to $10 million based on performance hurdles. SOL Strategies hasn’t planned to sell Solana treasury assets to fund the transaction.
The acquisition is anticipated to expand SOL Strategies’ revenue streams and expand its reach via Houdini’s multi-chain user base and B2B partnerships and open cross-selling opportunities for validator services, institutional staking, and products such as STKESOL.
Michael Hubbard, CEO of SOL Strategies, stated, “This transaction is a key step in building Solana as the foundation for institutional finance. While others have pulled back in 2026, we’re delivering on our commitment by building with conviction in the ecosystem that we believe is winning for the long term. Houdini is a trusted product with real users and volume. We see this as critical infrastructure for fungibility across blockchain networks and seamless mobility in and out of Solana.”
Meanwhile, Louis Goldberg, CEO and Founder of HoudiniSwap, stated, “What SOL Strategies brings is something we couldn’t replicate on our own: established institutional relationships, a validator network trusted by over 34,000 wallets, and a public company platform. Combining our teams will accelerate solutions to complex on-chain challenges.”
Other integrations
SOL Strategies has so far put efforts into widening the ecosystem. In accordance with that, last year, SOL Strategies Inc. entered into a strategic alliance with Crypto.com. As part of the partnership, SOL Strategies is going to entrust some of its digital assets to Crypto.com Custody as an effort to ensure maximum security and asset diversification.
At the same time, SOL Strategies provides validator services to Crypto.com’s institutional clients. The company said the partnership extends access to its infrastructure while supporting asset distribution through custodial solutions.
Strategic shift
The acquisition of Houdini Swap reflects SOL Strategies’ broader strategy to diversify beyond staking into cross-chain transactions, liquidity services, and privacy-focused infrastructure.
By integrating Houdini’s technology and user base, the company aims to add transaction-driven revenue and improve blockchain connectivity alongside its existing validation and staking services. The move indicates a shift toward broader infrastructure offerings, though its impact will depend on execution and integration over time.
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