Solowin Holdings Ltd announced that its subsidiary, AX Coin Bahrain B.S.C. Closed, has signed a non-binding Memorandum of Understanding with Bank of Bahrain and Kuwait to explore the development of regulated stablecoin infrastructure. The partnership aims to support institutional payments, treasury operations, and cross-border settlement. This collaboration leverages BBK's established banking expertise and AX Coin's licensed digital asset infrastructure to create secure and compliant financial solutions for banks and corporate clients.

The agreement comes as projections suggest up to US$1 trillion could migrate from emerging market bank deposits into stablecoins by 2028. Under the MOU, the entities will assess use cases across institutional payments, remittances, and cross-border settlement. Mr. Xavier George, CEO of AX Coin, stated the partnership highlights the value of combining banking expertise with regulated digital infrastructure to build efficient and scalable solutions.

Mr. Adnan Al Ameer, Head of Financial Institutions Group at BBK, noted that the collaboration allows the bank to assess how regulated stablecoins can support new institutional banking models by improving transaction speed and liquidity efficiency. The initiative reinforces Bahrain's role as a hub for financial innovation.

Solowin Holdings Ltd

Solowin Holdings operates as a global regulated fintech company, combining blockchain and artificial intelligence technologies. The company's offerings include stablecoin issuance, asset tokenization, and AI-powered services. Through its ecosystem, which includes AX COIN and AX ONE, Solowin empowers global institutions to capitalize on the dual-token economy.

Recent Performance

Solowin Holdings secured a Stablecoin issuer license from the Central Bank of Bahrain on June 3. The stock has fallen approximately 6% over the past month, touching a 52-week low of $2.35. Shares closed at $3.25 on Wednesday, down 0.6%, with an RSI of 28.3, indicating oversold territory.