Solowin’s AX Coin Signs MOU to Integrate Stablecoin with Bahrain Payments Hub
AXG•AXG subsidiary AX Coin Bahrain signed a non-binding MOU with The Benefit Company on May 6 to explore stablecoin integration with Bahrain’s national payments ecosystem. AX Coin has in-principle approval from the Central Bank of Bahrain and will assess technical and regulatory feasibility for interfacing with existing payment infrastructure.
1. MOU Signing and Objectives
AX Coin Bahrain signed a non-binding MOU with The Benefit Company on May 6 in Manama, Bahrain. The agreement, signed by AX Coin CEO Xavier George and BENEFIT CEO Abdulwahed AlJanahi, establishes a framework to explore stablecoin integration with the Kingdom’s national payments infrastructure.
2. Regulatory Approval
AX Coin has received in-principle approval from the Central Bank of Bahrain, enabling it to conduct regulated exploration of stablecoin applications within the national financial framework.
3. Scope of Collaboration
Under the MOU, AX Coin and BENEFIT will examine technical and regulatory feasibility for stablecoin use cases across the payments landscape, including cross-border remittances, merchant settlements and treasury flows, and potential interfaces with existing infrastructure.
4. Strategic Impact
The partnership builds on AXG’s fintech platform by advancing its stablecoin issuance strategy and supports Bahrain’s bid to become a regional hub for regulated digital finance, potentially accelerating adoption of digital asset-based solutions.
