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HONG KONG - Solowin Holdings (NASDAQ:SWIN), a $224 million market cap company currently trading above its InvestingPro Fair Value, announced Tuesday it has entered an equity purchase agreement to acquire a 19% stake in GPL Remittance Pte. Ltd., a Singapore-based cross-border payment institution.
GPL holds a Major Payment Institution license issued by the Monetary Authority of Singapore and brings over 30 years of global operational experience to the partnership.
Peter Lok, Chief Executive Officer of Solowin, said the investment "will strengthen our licensed payment channels in the region" and serve as "a strategic asset that enhances our market competitiveness." The company, which maintains an impressive 85.71% gross profit margin, has seen its stock surge 264% over the past six months despite not being profitable in the last twelve months.
The MPI license is Singapore’s most comprehensive payment license, covering both traditional and innovative payment services while ensuring compliance with regulatory standards. It allows entities to operate globally and integrate digital and fiat services. InvestingPro analysis reveals 8 additional key insights about Solowin’s financial performance and market position.
Solowin Holdings, founded in 2016, describes itself as a financial services firm providing solutions across traditional and digital assets through its Hong Kong Securities and Futures Commission licensed subsidiaries. The company currently generates annual revenue of $3.32 million.
The company did not disclose the financial terms of the transaction in its press release statement.
In other recent news, Solowin Holdings has announced several significant developments. The company disclosed a definitive agreement for a registered direct offering, aiming to raise approximately $3.5 million through the sale of around 10.6 million Class A Ordinary Shares. This transaction is expected to close on May 27, 2025, and the funds will be used to support working capital and general corporate needs. Additionally, Solowin Holdings has revealed plans to launch a joint Bitcoin quantitative fund with Antalpha, targeting US$100 million in assets under management. This fund will employ an algorithmic trading strategy focused on Bitcoin investments. Furthermore, Solowin Holdings is targeting $1 billion in assets under management for its USD Money Market Real Yield Token by the end of 2025. This tokenized yield product is offered in collaboration with several partners, including Standard Chartered and China Asset Management (Hong Kong). These initiatives reflect Solowin Holdings’ strategic efforts to expand its financial product offerings.
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