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AX Coin, a Subsidiary of SOLOWIN HOLDINGS (Nasdaq: AXG), Partners with Bank of Bahrain and Kuwait B.S.C. to Advance Regulated Stablecoin Infrastructure for Institutional Banking

AXG
  • SOLOWIN HOLDINGS (NASDAQ: AXG) announced that its regulated stablecoin issuer, AX Coin Bahrain B.S.C. Closed ("AX Coin"), signed a non-binding Memorandum of Understanding (MOU) with Bank of Bahrain and Kuwait ("BBK").
  • The collaboration aims to explore developing regulated stablecoin infrastructure to support institutional payments, treasury operations, & cross-border settlement.
  • The partnership combines BBK's banking expertise with AX Coin's licensed digital asset infrastructure to assess use cases across institutional payments, remittances, & cross-border settlement.
  • Global projections suggest up to US$1 trillion could migrate from emerging market bank deposits into stablecoins by 2028, driven by demand for efficient financial solutions.
  • AX Coin CEO Xavier George stated the partnership reinforces Bahrain's role as a hub for financial innovation by connecting traditional banking with regulated blockchain technology.
  • BBK's Head of Financial Institutions Group, Adnan Al Ameer, noted the collaboration focuses on improving transaction speed, liquidity efficiency, & cross-border operations within clear regulatory frameworks.
  • SOLOWIN HOLDINGS operates a dual-token digital economy platform combining blockchain & artificial intelligence, offering services such as stablecoin issuance, asset tokenization, & AI-powered verification.