Solowin Holdings (NASDAQ: AXG), a financial technology company bridging traditional and digital assets, announced that its subsidiary AX Coin, the stablecoin issuance entity under AlloyX Group, has received an in-principle approval letter for a stablecoin license from the Central Bank of Bahrain. The approval is subject to final regulatory clearance and follows several months of regulatory engagement, according to the company.
The in-principle approval positions AlloyX Group to pursue the launch of a compliant stablecoin within Bahrain's regulatory framework, supporting the expansion of its stablecoin ecosystem across the Middle East and Africa region and internationally. This development underscores Solowin's commitment to operating within regulated environments and highlights Bahrain's growing role as a hub for digital asset innovation in the region.
Solowin Holdings is a global financial technology firm focused on digital currency payments and asset tokenization. Founded in 2016, the company aims to bridge traditional and decentralized finance by building secure, efficient, and compliant financial infrastructure. It provides integrated digital asset solutions for global investors and institutions through its multi-jurisdictional platform, which includes its Hong Kong Securities and Futures Commission (SFC)-licensed subsidiary Solomon JFZ (Asia) Holdings Limited, along with AlloyX Group and AX Coin.
The stablecoin license approval is a significant milestone for Solowin, as it enables the company to issue a regulated stablecoin in Bahrain, a jurisdiction known for its progressive approach to fintech. This move aligns with the company's strategy to develop a vertically integrated, enterprise-grade financial platform encompassing global stablecoin payments, corporate treasury, private wealth management, and tokenization as a service.
For more information, visit the full press release at https://ibn.fm/9cdZb.
