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SOLOWIN HOLDINGS’ (NASDAQ: AXG) Subsidiary AX Coin Bahrain Receives Sharia Certification for AXBHD Stablecoin

AXG
  • AX Coin Bahrain B.S.C. Closed, a regulated stablecoin issuer under Solowin Holdings (NASDAQ: AXG), announced that its AXBHD stablecoin framework completed a formal Sharia review.
  • The certification was conducted by Shariyah Review Bureau W.L.L. (SRB), a firm licensed by the Central Bank of Bahrain, making AXBHD the first central bank regulated stablecoin to receive this status.
  • SRB reviewed the issuance mechanism, reserve investment framework, governance arrangements, and revenue model to ensure compliance with recognized Islamic finance principles.
  • The engagement establishes an ongoing Sharia governance framework to support AX Coin Bahrain as it expands its portfolio of regulated stablecoin offerings.
  • Xavier George, CEO of AX Coin Bahrain, stated that the certification reflects the company's commitment to transparency, strong governance, and integrating Sharia principles into its operational structure.
  • Yasser S. Dahlawi, Founder of SRB, noted that robust Sharia governance is critical for fostering confidence in regulated stablecoins within the evolving digital finance sector.
  • Solowin Holdings operates a dual-token digital economy super platform combining blockchain and AI technologies with core pillars in digital asset tokens and AI tokens.
  • The company's ecosystem includes AX COIN, AX ONE, FERION, SOLOMON, AGENTX, and KOVAR to serve global institutions and investors.