⚡ MAS Markets Buys a Slice of Solid, Three Years After Solid Bought a Piece of It

MAS Group, the London-based institutional liquidity and technology provider, announced on July 29 that it has acquired a strategic equity stake in Solid, marking the first step toward a full acquisition over the coming years. The deal reverses a 2022 arrangement when Solid, a non-bank spot FX market maker, took a 9.9 percent stake in what was then BidX Markets. MAS CEO Simon Blackledge retained over 75 percent ownership throughout.

The acquisition gives MAS direct exposure to Solid’s institutional spot FX client base, while Solid’s clients gain access to MAS’s FCA licence and margin trading infrastructure. Both firms confirmed client relationships and service levels will remain unchanged during integration. The move comes amid aggressive expansion by MAS, which rebranded in early 2024 and reported net profit jumping 508 percent to £174,512 in fiscal 2024, with revenues nearly tripling then rising another 92 percent to £6.1 million in 2025.

FXnCO Insight

MAS is consolidating its position as a multi-asset institutional bridge between spot and margin FX markets through regulatory leverage and vertical integration.

Source: Finance Magnates