Solowin Holdings, trading on NASDAQ under the symbol AXG, has announced its intention to acquire Gello Finance Ltd. through its wholly owned subsidiary AlloyX (Hong Kong) Limited. The primary objective of this acquisition is to obtain a Canadian Money Services Business license regulated by the Financial Transactions and Reports Analysis Centre of Canada. This strategic move is designed to provide the company with fully compliant access to North American markets and advance its global expansion strategy.
Upon completion of the acquisition, the MSB license would authorize AXG to offer a range of regulated financial services in North America. These services include foreign exchange, cross-border remittance, virtual currency transactions, and payment processing. This development would formally establish the company's entry into North America's mainstream financial and digital asset ecosystems. Furthermore, it would strengthen Solowin Holdings' compliance framework across jurisdictions within the Organisation for Economic Co-operation and Development.
Solowin Holdings describes itself as 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. 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.
The company has developed what it calls a multi-jurisdictional, vertically integrated, enterprise-grade new financial 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 Holdings manages digital assets it describes as compliant, transparent, and closely connected to the real economy. The company is committed to establishing itself as a leading global digital asset financial platform, driving the convergence of traditional finance and the digital assets ecosystem.
The announcement was made through ChineseWire, a specialized communications platform focusing on China-based companies listed in North America. ChineseWire is part of a larger network of brands within the Dynamic Brand Portfolio at IBN. For more information on ChineseWire's services and disclaimers, visit https://www.ChineseWire.com. The full press release for this announcement can be viewed at https://ibn.fm/MPLuX, and the latest news and updates relating to AXG are available in the company’s newsroom at https://ibn.fm/AXG.
This acquisition represents a significant step for Solowin Holdings as it seeks to expand its regulatory footprint and service offerings in a key global market. Obtaining a Canadian MSB license would not only facilitate entry into North America but also enhance the company's credibility and compliance standing internationally. For the industry, this move highlights the ongoing trend of fintech firms seeking cross-border regulatory approvals to offer integrated digital asset services, potentially increasing competition and innovation in North America's financial services sector. For investors and institutions, it could mean broader access to regulated digital asset solutions from a platform aiming to connect traditional and decentralized finance.
