Solowin Holdings, a financial technology company listed on NASDAQ under the ticker SWIN, 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 confirmation and follows several months of regulatory engagement. The development positions AlloyX Group to pursue the launch of a compliant stablecoin within Bahrain's established regulatory framework.
The company stated that this regulatory milestone supports the expansion of its stablecoin ecosystem across the Middle East and Africa region, as well as internationally. Solowin Holdings describes itself as a global financial technology firm focused on digital currency payments and asset tokenization, dedicated to bridging traditional and decentralized finance. The company aims to build secure, efficient, and compliant financial infrastructure that provides integrated digital asset solutions for global investors and institutions.
Leveraging its Hong Kong Securities and Futures Commission-licensed subsidiary Solomon JFZ (Asia) Holdings Limited, along with other key subsidiaries including AlloyX Group and AX Coin, the company has developed a multi-jurisdictional, vertically integrated platform. This enterprise-grade financial platform encompasses global stablecoin payments, corporate treasury and private wealth management, and tokenization as a service. The company manages compliant and transparent digital assets that are closely connected to the real economy and is backed by leading international institutional investors.
For business and technology leaders, this development signals growing regulatory acceptance of stablecoins in strategic financial hubs like Bahrain. The in-principle approval could facilitate smoother cross-border transactions and digital asset integration for corporations operating in the region. It also reflects the increasing institutionalization of cryptocurrency-related services, as traditional financial technology companies seek regulatory partnerships to expand their digital asset offerings. The move may encourage other jurisdictions to develop clearer frameworks for stablecoin operations, potentially accelerating the convergence of traditional finance and digital asset ecosystems globally. More information about the company is available at https://ibn.fm/SWIN.
