Nov 24 (Reuters) - Financial services firm SWB will go

public in the U.S. through a merger with Soulpower Acquisition

Corp ( SOUL ) in a $8.1 billion deal, the special purpose

acquisition company said on Monday.

Blank-check deals have made a strong comeback on Wall Street

in 2025 after a years-long slump, with seasoned SPAC sponsors

turning back to the alternative to traditional initial public

offerings.

SWB is a newly formed vehicle established to launch Soul

World Bank, which intends to offer a suite of financial

services, including stablecoins and banking services.

The company plans to acquire a banking license from the Bank

of Asia, which is currently in liquidation in the British Virgin

Islands.

Separately, SWB will partner with blockchain developer

Animoca Brands to develop and issue a cross-border stablecoin.

A SPAC is a shell company that raises money through an IPO

to merge with a private business, allowing it to go public

without a traditional IPO.

SWB has secured an equity facility of up to $5 billion with

CREO Investments. The combined company will trade on the New

York Stock Exchange under the ticker symbol "SOUL".

SWB founder Justin Lafazan will become the chairman of the

combined company following the closing of the deal, which is

expected to happen in the first quarter of 2026.