Plans for Soul World Bank to enter the public markets have moved forward as SWB prepares to merge with Soulpower Acquisition Corp. This new entity is expected to trade on the New York Stock Exchange under the ticker ‘SOUL’ once the transaction closes, a step anticipated in early 2026.
According to Reuters, activity in the SPAC market has improved in 2025 after several years of reduced issuance, with long-time sponsors returning to the structure as an alternative to the conventional initial public offering route. In this context, Soulpower Acquisition Corp announced that SWB, which was created to establish the proposed Soul World Bank, has agreed to a deal valuing the company at about USD 8.1 billion.
Background on the SPAC and the planned business model
SWB intends to operate as a multi-service financial institution, focusing initially on digital assets and cross-border payment infrastructure. According to representatives from SWB, the organisation plans to acquire the banking licence of the Bank of Asia, a company currently undergoing liquidation proceedings in the British Virgin Islands. The planned acquisition is expected to provide the regulatory foundation for future services, including digital banking products and the issuance of stablecoins.
As part of its strategy, SWB aims to collaborate with blockchain developer Animoca Brands to design and distribute a cross-border stablecoin. Representatives from SWB said the project is intended to support international payments, though development work remains ongoing.
Moreover, with the merger announcement, CREO Investments has agreed to provide SWB with an equity facility of up to USD 5 billion. Company officials said the arrangement is intended to offer capital flexibility as the group moves toward public listing and begins building out its proposed financial infrastructure.
