Solowin's AX Coin, BBK Sign Agreed to Explore Cooperation on Stablecoin Infrastructure

Solowin (AXG) and its regulated stablecoin issuer, AX Coin Bahrain, B.S.C. Closed, signed a non-binding memorandum of understanding with Bank of Bahrain and Kuwait to explore the development of regulated stablecoin infrastructure for institutional payments, treasury operations and cross-border settlement, Solowin said Monday. Under the agreement, Bank of Bahrain and Kuwait and AX Coin will evaluate regulated stablecoin use cases across institutional payments, remittances and cross-border settlement, the company said in a statement. The collaboration combines BBK's banking expertise with AX Coin's licensed digital asset infrastructure to explore secure, compliant and scalable financial offerings for banks, financial institutions, fintech companies and corporate clients, the statement said.