Publicly listed company TruGolf completes acquisition of Polymath Research, enters institutional-grade asset tokenization business.

Nasdaq-listed firm TruGolf Holdings (TRUG) announced the completion of its acquisition of Canadian asset tokenization company Polymath Research Inc. Polymath specializes in institutional-grade asset tokenization and is the developer of Polymesh, a Layer 1 blockchain designed for regulated assets. Following the acquisition, Polymath will operate as a wholly-owned subsidiary of TruGolf, while TruGolf retains its core businesses—including golf simulators and the E6 platform—forming two business lines: golf technology and blockchain infrastructure. As of December 31, 2025, Polymath has issued tokenized assets valued at over $132 million to more than 65 active issuers and boasts over 50 ecosystem partners. The two parties also plan to launch equipment leasing tokenization and franchise fractional ownership projects in the first quarter of 2027. Additionally, TruGolf generated a net gain of approximately $2.95 million from exercising Series B preferred stock warrants related to this transaction.