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. This regulatory milestone, subject to final approval, follows several months of engagement with Bahraini authorities and enables the company to pursue launching a compliant stablecoin within the country's regulatory framework.
The approval represents a strategic expansion for Solowin's AlloyX Group subsidiary, which oversees AX Coin's operations. Bahrain has emerged as a progressive regulatory hub for digital assets in the Middle East, and this license positions Solowin to develop its stablecoin ecosystem across the Middle East and Africa region as well as internationally. The company's multi-jurisdictional approach leverages its existing regulatory foundation, including its Hong Kong Securities and Futures Commission-licensed subsidiary Solomon JFZ (Asia) Holdings Limited.
For investors and financial institutions, this development signals Solowin's continued progress in building what it describes as "a secure, efficient and compliant financial infrastructure" that bridges traditional and decentralized finance. The company's platform encompasses global stablecoin payments, corporate treasury services, private wealth management, and tokenization services. According to the company's announcement, this regulatory approval supports its mission to establish "a leading global digital asset financial platform" that connects digital assets with the real economy.
The broader implications of this approval extend beyond Solowin's corporate strategy. As stablecoins gain regulatory acceptance in key financial jurisdictions, they potentially offer more efficient cross-border payment solutions and greater accessibility to digital asset services. Bahrain's central bank has been actively developing its regulatory framework for digital assets, making this approval part of a larger trend of traditional financial centers embracing fintech innovation while maintaining regulatory oversight.
Solowin's announcement indicates that the company manages "compliant and transparent digital assets" backed by leading international institutional investors. The full press release detailing this development is available at https://ibn.fm/9cdZb. Additional information about the company is accessible through its newsroom at https://ibn.fm/SWIN.
