SOLOWIN HOLDINGS (NASDAQ: AXG) announced that its stablecoin issuance subsidiary, AX Coin Bahrain B.S.C. (C), has signed a non-binding memorandum of understanding with The Benefit Company B.S.C. (C), Bahrain’s national electronic financial transactions hub, to explore potential applications for stablecoin technology within the kingdom’s payments ecosystem.
The collaboration will assess how stablecoin capabilities could potentially integrate with BENEFIT’s existing national payments infrastructure, subject to regulatory and technical feasibility, as part of a broader evaluation of emerging digital asset infrastructure in Bahrain. AX Coin has received in-principle approval from the Central Bank of Bahrain, with the initiative intended to support continued exploration of regulated digital asset solutions in the region.
This partnership is significant because it could pave the way for stablecoins to be used in everyday transactions within Bahrain, leveraging BENEFIT's established network that processes a large volume of electronic payments. For SOLOWIN HOLDINGS, the MOU represents an opportunity to expand its footprint in the Middle East and demonstrate the practical utility of its stablecoin technology within a regulated framework. The company, which operates a dual-token digital economy super platform, already offers services including stablecoin issuance and payments, asset tokenization, and AI-powered solutions.
For more information, visit the Company’s website at https://www.alloyx.com or Investor Relations webpage at https://ir.alloyx.com.
