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AXG Revenue Surges 895% as Stablecoin and Fiat Trading Volume Reaches $1.04 Billion

AXG
  • SOLOWIN HOLDINGS (NASDAQ: AXG) reported $28.05 million in revenue for the fiscal year ended March 31, 2026, a 895% increase from the prior year.
  • Stablecoin & fiat trading volume rose 395% to $1.04 billion, driven by the development of the company's institutional digital-finance business.
  • Client assets under administration grew 347% to $848.8 million, while AX ONE processed $226 million in payment volume & FERION completed 10 tokenization projects valued at $52 million.
  • AI infrastructure generated $22.2 million (79% of group revenue) & Digital Asset Tokens contributed $5.6 million, resulting in a net loss of $13.29 million.
  • Global stablecoin market capitalization increased 48.9% in calendar 2025 to reach $311 billion, with Tether's USDT & Circle's USDC holding 84.5% of the market as of June 2026.
  • Asia-Pacific stablecoin payment volume saw a shift in dominance, with USDT's share declining from 98% in early 2025 to 91% in July 2026 as institutions evaluate alternative options.
  • Business-to-business stablecoin payments reached $226 billion annually in December 2025, a 733% year-over-year increase, with Asia-originated payments totaling $245 billion.
  • High inflation in Argentina (33.5%) & Türkiye (31.51%) in August 2026, alongside global remittance costs averaging 6.36%, reinforces demand for efficient dollar-pegged transfers.
  • AX Coin Bahrain received its full stablecoin issuer license in June 2026, prompting priorities to commercialize AXUSD & AXBHD & develop GCC-Asia & GCC-Africa payment corridors.
  • A recent U.S. Senate cloture vote on the CLARITY Act motion to proceed failed 49 to 50 due to an ethics clause dispute, though the core framework for SEC & CFTC oversight remains under discussion.
  • CEO Ling Ngai Lok stated that the U.S. market structure is being built through agency rulemaking & existing laws like GENIUS, allowing AXG to operate on a license-first path while awaiting final U.S. regulations.