TruGolf's Pending Polymath Acquisition Signals Major Shift into Tokenized Asset Infrastructure - citybuzz -

TruGolf Holdings has announced a pending acquisition of Polymath Research Inc. to integrate institutional-grade tokenization infrastructure into its Nasdaq-listed golf technology business. Polymath brings a robust ecosystem, reporting over $132 million in tokenized assets issued and more than 65 active issuers as of December 2025. The platform features a purpose-built Layer-1 blockchain, confidential settlement, and regulated issuance tools designed for institutional financial instruments. This strategic move aims to create a dual-track growth model by combining TruGolf’s existing revenue streams with Polymath’s digital asset capabilities. With $4.2 million in 2025 revenue and a $1 billion identified backlog, Polymath provides a significant foundation for TruGolf’s expansion into the RWA sector. The merger highlights a growing trend of public companies seeking to acquire vertically integrated tokenization stacks to bridge traditional finance and blockchain settlement. If finalized, the combined entity will represent a rare example of a Nasdaq-listed firm operating a comprehensive, regulated tokenization infrastructure.