10:29 AM EDT, 05/28/2024 (MT Newswires) -- Solowin Holdings ( SWIN ) said Tuesday it has partnered with MaiCapital to broaden its virtual asset allocation opportunities.

Under the terms, Solowin ( SWIN ) will acquire a 2.47% equity stake, or 199,210 ordinary shares, in BA Fintech Lab, the parent company of MaiCapital.

Additionally, Solowin's ( SWIN ) subsidiary Solomon JFZ (Asia) and MaiCapital will merge resources and licenses to optimize business synergies.

Financial details of the deal were not disclosed.

Shares of Solowin ( SWIN ) were down more than 14% in recent trading.

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