Solowin Holdings, trading on NASDAQ under the ticker AXG, announced that its subsidiary AlloyX Group's stablecoin issuance entity, AX Coin, has received an in-principle approval letter for a stablecoin license from the Central Bank of Bahrain. This approval is subject to final regulatory clearance and follows several months of regulatory engagement between the company and Bahraini authorities.
The in-principle approval positions AlloyX Group to pursue the launch of a compliant stablecoin within Bahrain's regulatory framework. This development supports the expansion of Solowin's stablecoin ecosystem across the Middle East and Africa region, as well as internationally. The company's approach emphasizes operating within established regulatory parameters to ensure compliance and security for users and investors.
Solowin Holdings operates as a financial technology company focused on bridging traditional and digital assets. The company has developed what it describes as a multi-jurisdictional, vertically integrated, enterprise-grade financial platform. This platform encompasses global stablecoin payments, corporate treasury and private wealth management services, and tokenization as a service. The company manages digital assets that it states are closely connected to the real economy, backed by leading international institutional investors.
The company's regulatory strategy includes leveraging its Hong Kong Securities and Futures Commission-licensed subsidiary, Solomon JFZ (Asia) Holdings Limited, alongside other key subsidiaries such as AlloyX Group and AX Coin. This structure is designed to provide integrated digital asset solutions for global investors and institutions while maintaining compliance across different jurisdictions.
This regulatory milestone in Bahrain represents a significant step for Solowin's international expansion strategy. The approval process demonstrates the company's commitment to engaging with regulatory bodies to establish compliant operations in new markets. The development comes as global interest in stablecoins and digital asset infrastructure continues to grow, particularly in regions seeking to establish clear regulatory frameworks for cryptocurrency operations.
For more information about Solowin Holdings, investors can visit the company's newsroom at https://ibn.fm/SWIN. Additional details about the press release distribution service that disseminated this announcement are available at https://www.InvestorWire.com.
