Solowin Holdings, a financial technology company trading on NASDAQ under the ticker AXG, announced that its subsidiary AX Coin has received in-principle approval for a stablecoin license from the Central Bank of Bahrain. The approval, which is subject to final regulatory clearance, follows several months of regulatory engagement and positions AlloyX Group, the parent entity of AX Coin, to pursue the launch of a compliant stablecoin within Bahrain's regulatory framework.
The development supports the expansion of Solowin's stablecoin ecosystem across the Middle East and Africa region and internationally. As a global financial technology firm focused on digital currency payments and asset tokenization, Solowin has dedicated itself to bridging traditional and decentralized finance by building secure, efficient, and compliant financial infrastructure. The company leverages its Hong Kong Securities and Futures Commission-licensed subsidiary Solomon JFZ (Asia) Holdings Limited, along with other key subsidiaries such as AlloyX Group and AX Coin, to develop a multi-jurisdictional, vertically integrated platform.
This platform encompasses global stablecoin payments, corporate treasury and private wealth management, and tokenization as a service. Backed by leading international institutional investors, Solowin manages compliant and transparent digital assets that are closely connected to the real economy. The in-principle approval from Bahrain represents a significant regulatory milestone, potentially enhancing the company's ability to offer integrated digital asset solutions for global investors and institutions.
The move aligns with broader industry trends where financial hubs like Bahrain are establishing clear regulatory frameworks for digital assets. For readers and industry observers, this approval signals growing institutional acceptance of stablecoins and could facilitate more secure and regulated digital payment corridors between the Middle East, Africa, and other regions. It may also encourage other jurisdictions to develop similar licensing regimes, potentially accelerating the integration of digital assets into mainstream finance.
Investors and stakeholders can find more information in the company's newsroom at https://ibn.fm/SWIN. The press release detailing this announcement is available at https://ibn.fm/9cdZb. This development underscores Solowin's commitment to establishing itself as a leading global digital asset financial platform, driving the seamless convergence of traditional finance and the digital assets ecosystem.
