Nasdaq-listed fintech firm SOLOWIN HOLDINGS (AXG) said on Wednesday that its subsidiary AX Coin Bahrain B.S.C. (c) has been licensed by the Central Bank of Bahrain (CBB) to carry out stablecoin issuer activities.
The company said AX Coin is the first entity to be granted a licence under the CBB’s stablecoin regulatory framework. AX Coin had received in-principle approval from the CBB in January 2026.
CBB’s stablecoin regime
The licence falls under the CBB’s Stablecoin Issuance and Offering Module, which sits within Rulebook Volume 6 (Capital Markets). The module covers licensing, reserve asset requirements, custody arrangements, redemption rights, and cybersecurity.
“With this regulated foundation, we are positioned to integrate stablecoins into the real-world systems, enabling institutional-grade adoption across payments and settlement,” said Dr. Thomas Zhu, Co-Founder of AXG and Chairman of AX Coin.
The full licence completes a process that began with in-principle approval in January, making AX Coin, according to the company, the first entity to move through the entire licensing path under the regime.
