Solowin Holdings (NASDAQ: AXG), through its regulated stablecoin issuer AX Coin Bahrain B.S.C. Closed, has announced that its AXBHD stablecoin framework has completed a formal Sharia review, making it the first central bank-regulated stablecoin to receive Sharia certification. The certification, conducted by Shariyah Review Bureau W.L.L., evaluated AXBHD’s issuance mechanism, reserve investment framework, governance arrangements, and revenue model for compliance with Islamic finance principles. The review also established an ongoing Sharia governance framework, reinforcing the company’s commitment to transparency and responsible governance as it prepares to launch the AXBHD stablecoin.
This development is significant as it bridges the gap between traditional Islamic finance and the rapidly evolving digital asset ecosystem. By obtaining Sharia certification, Solowin Holdings positions itself to cater to a vast market of Muslim investors and institutions that require compliance with Islamic law, which prohibits interest (riba) and speculative activities (gharar). This certification could open doors to partnerships and adoption in regions with significant Muslim populations, such as the Middle East and Southeast Asia.
The Sharia review process entailed a comprehensive assessment of AXBHD's operational and financial structures. The issuer's reserve investment framework was scrutinized to ensure that assets backing the stablecoin are permissible under Islamic principles, and the governance arrangements were aligned with Sharia standards to ensure ongoing compliance. The revenue model was also reviewed to ensure that earnings are generated in a manner consistent with Islamic finance, avoiding interest-based transactions.
Solowin Holdings is a leading global regulated fintech company established in 2016, combining blockchain and artificial intelligence technologies to operate a fully compliant dual-token digital economy super platform. Guided by the mission “Mobilizing Tokens 24/7,” AXG operates two core business pillars: Digital Asset Tokens and AI Tokens. Its offerings span stablecoin issuance and payments, asset tokenization, securities trading, asset management, and AI-powered services including cloud infrastructure, Know-Your-Agent verification, and token router.
Through its integrated ecosystem, including AX COIN, AX ONE, FERION, SOLOMON, SCION, and KOVAR, AXG empowers global institutions and investors to capitalize on the rapid growth of the dual-token economy. The company’s foray into Sharia-compliant stablecoins could set a precedent for other issuers, potentially leading to a broader adoption of digital assets in Islamic finance.
This certification also underscores the growing importance of regulatory compliance and ethical considerations in the cryptocurrency sector. As stablecoins gain traction, their alignment with religious and ethical standards could become a differentiator. Solowin Holdings' proactive approach may pave the way for more inclusive financial products that respect cultural and religious values.
For more information about Solowin Holdings, visit the company’s website at https://www.alloyx.com or its Investor Relations webpage at https://ir.alloyx.com. The latest news and updates relating to AXG are available in the company’s newsroom at https://cnw.fm/AXG.
