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FAQ: Solowin Holdings' Subsidiary Receives In-Principle Stablecoin License Approval in Bahrain
TL;DR
Solowin's subsidiary AX Coin gains in-principle approval for a stablecoin license in Bahrain, positioning it for first-mover advantage in Middle Eastern and African digital finance markets.
AX Coin, under Solowin's AlloyX Group, secured in-principle approval from Bahrain's central bank after months of regulatory engagement, enabling compliant stablecoin issuance within Bahrain's framework.
This regulatory approval supports Solowin's expansion of compliant stablecoins, potentially improving financial inclusion and secure digital payments across the Middle East, Africa, and globally.
Solowin's AX Coin received Bahrain's in-principle stablecoin license approval, bridging traditional and digital finance with a focus on tokenization and global payments since 2016.
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Solowin Holdings announced that AX Coin, a subsidiary under its AlloyX Group, has received in-principle approval for a stablecoin license from the Central Bank of Bahrain, subject to final regulatory approval.
Solowin Holdings is involved, trading on NASDAQ under the symbol AXG.
Solowin Holdings is a global financial technology firm focused on digital currency payments and asset tokenization, bridging traditional and decentralized finance through secure, compliant financial infrastructure.
AX Coin, the stablecoin issuance entity under Solowin's AlloyX Group subsidiary, received the approval and will be responsible for issuing compliant stablecoins.
This approval positions AlloyX Group to pursue launching a compliant stablecoin within Bahrain's regulatory framework and supports expansion of its stablecoin ecosystem across the Middle East, Africa, and internationally.
The Central Bank of Bahrain granted the in-principle approval, with Bahrain serving as the initial regulatory jurisdiction for the stablecoin operations.
The approval followed several months of regulatory engagement between Solowin's subsidiary and Bahrain's regulatory authorities.
Solowin has a Hong Kong Securities and Futures Commission (SFC)-licensed subsidiary called Solomon JFZ (Asia) Holdings Limited, in addition to its other subsidiaries like AlloyX Group and AX Coin.
Solowin's platform encompasses global stablecoin payments, corporate treasury and private wealth management, and tokenization as a service through its vertically integrated, multi-jurisdictional enterprise-grade platform.
The latest news and updates relating to AXG are available in the company's newsroom at https://ibn.fm/SWIN, and the full press release can be viewed at https://ibn.fm/9cdZb.
Curated from InvestorBrandNetwork (IBN)
