Solana Treasury Firm Acquires Privacy-Focused Cross-Chain Aggregator

Solana Strategies, a Nasdaq-listed treasury firm, has made a significant move in the crypto market by acquiring HoudiniSwap, a non-custodial cross-chain aggregator, for $18 million. The deal is part of SOL Strategies' strategy to build out its Solana-centric infrastructure and services stack.

The consideration includes $8.25 million in cash, $5.75 million in six-month notes, and $4 million in STKE stock. HoudiniSwap focuses on privacy-preserving cross-chain swaps and routing across centralized and decentralized exchanges as well as blockchain bridges.

HoudiniSwap uses Monero as a 'tunnel' asset to break the visible on-chain link between sender and recipient wallets, making it difficult for analytics firms to trace flows end-to-end. The service acts as a liquidity aggregator and conduit between vetted exchanges and bridges, positioning it as a compliant alternative to illicit mixers.

HoudiniSwap generated around $13 million in revenue last year, driven by rising demand for private, cross-chain swaps across more than 100 supported networks and assets. This acquisition is seen as a strategic move by SOL Strategies to fill gaps in its infrastructure stack and provide a compliant alternative to existing solutions.