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 (CBB). The approval is subject to final regulatory clearance and follows several months of regulatory engagement. This milestone 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.
The in-principle approval underscores Solowin’s commitment to operating within regulated environments. Bahrain has emerged as a progressive hub for digital asset regulation in the Middle East, and the CBB’s framework provides clarity for stablecoin issuance. By securing this approval, AlloyX Group can proceed with the necessary steps to meet final requirements, potentially setting a precedent for other stablecoin projects in the region. The company’s stablecoin initiative aims to facilitate efficient cross-border payments and digital asset transactions, aligning with the growing demand for regulated digital currencies.
Solowin Holdings has built a multi-jurisdictional platform through its subsidiaries, including Solomon JFZ (Asia) Holdings Limited, which is licensed by the Hong Kong Securities and Futures Commission (SFC). The company’s vertically integrated structure encompasses global stablecoin payments, corporate treasury, private wealth management, and tokenization services. The Bahrain approval adds to its regulatory footprint, enhancing its ability to serve institutional clients seeking compliant digital asset solutions.
According to the company, the development is a critical step toward bridging traditional and decentralized finance. Solowin’s CEO emphasized the importance of regulatory compliance in building trust and fostering adoption. The stablecoin, once launched, could facilitate real-world economic applications, such as remittances and trade finance, particularly in regions with limited access to traditional banking.
Investors can find the latest news and updates regarding Solowin Holdings in the company’s newsroom at https://ibn.fm/SWIN. The full press release is available at https://ibn.fm/9cdZb.
