Solowin Holdings (NASDAQ: AXG), through its regulated stablecoin issuer AX Coin Bahrain B.S.C. Closed, announced that its AXBHD stablecoin framework has completed a formal Sharia review, making it the first central bank-regulated stablecoin to receive Sharia certification. The certification was conducted by Shariyah Review Bureau W.L.L., which evaluated the AXBHD’s issuance mechanism, reserve investment framework, governance arrangements, and revenue model for compliance with Islamic finance principles. The review also established an ongoing Sharia governance framework for the stablecoin.
The company stated that this certification reinforces its commitment to transparency and responsible governance as it prepares to launch the AXBHD stablecoin. This development is significant because it bridges the gap between traditional Islamic finance and the rapidly growing digital asset sector, potentially opening the door for greater adoption of stablecoins among Muslim investors and financial institutions that adhere to Sharia law.
Islamic finance principles prohibit interest (riba) and speculative activities (gharar), and require that assets be backed by tangible assets or services. By obtaining Sharia certification, AXBHD aims to assure users that its operations comply with these ethical and religious standards. This could provide a competitive edge in markets with large Muslim populations, such as the Middle East and Southeast Asia, where there is a growing demand for compliant financial products.
The certification may also have broader implications for the stablecoin industry. As regulators worldwide scrutinize digital assets, demonstrating compliance with religious and ethical standards could serve as a model for other issuers seeking to expand their reach. It underscores the potential for stablecoins to be designed with specific cultural and regulatory requirements in mind, potentially increasing their acceptance and integration into mainstream finance.
Solowin Holdings, established in 2016, combines blockchain and artificial intelligence technologies to operate a fully compliant dual-token digital economy super platform. Its mission is “Mobilizing Tokens 24/7,” and it operates two core business pillars: Digital Asset Tokens and AI Tokens. The company’s offerings span stablecoin issuance and payments, asset tokenization, securities trading and asset management, as well as AI-powered services including cloud infrastructure, Know-Your-Agent verification, and token router. Through its integrated ecosystem, including AX COIN, AX ONE, FERION, SOLOMON, SCION, and KOVAR, AXG empowers global institutions and investors to capitalize on the rapid growth of the dual-token economy.
For more information about Solowin Holdings, visit the company’s website at https://www.alloyx.com or its Investor Relations webpage at https://ir.alloyx.com. The latest news and updates relating to AXG are available in the company’s newsroom at https://cnw.fm/AXG.
This milestone not only highlights the growing intersection of faith-based finance and digital innovation but also signals a potential shift toward more inclusive and ethically compliant financial instruments in the global market. As the stablecoin market continues to evolve, certifications like this may become increasingly important for building trust and expanding user bases across diverse demographics.
