SOLOWIN HOLDINGS (AXG)’s AX Coin Signs MOU with Singapore Gulf Bank to Advance Stablecoin and Digital Asset Cooperation

Rhea-AI Summary

SOLOWIN HOLDINGS (AXG) announced that AX Coin Bahrain, its stablecoin issuance subsidiary, signed a non-binding MOU with Singapore Gulf Bank (SGB) on May 5, 2026 to collaborate on compliant stablecoin infrastructure, cross-border payments, treasury frameworks, and institutional payment rails across Asia and the Middle East.

The MOU was formalized at SGB headquarters in Bahrain by AX Coin CEO Xavier George and SGB Director Frederic Boissieras, and targets integration of AX Coin technology with SGB banking and payment networks.

News Market Reaction – AXG

+1.90%

+1.90% Session close to close

In the May 6 session, AXG gained 1.90%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement expands AX Coin’s regulated stablecoin ambitions through a non-binding MOU with Si...

Analysis

This announcement expands AX Coin’s regulated stablecoin ambitions through a non-binding MOU with Singapore Gulf Bank, targeting compliant infrastructure, cross-border settlement, and institutional-grade payment rails. It follows the Central Bank of Bahrain’s in-principle stablecoin license approval on Jan 28, 2026, indicating steady ecosystem build-out. Investors may watch for binding agreements, concrete product launches, transaction volumes, and future financial updates—such as revenue growth and net loss trends—to gauge the commercial impact of these partnerships.

Previous Crypto Reports

1 past event · Latest: Jan 28 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 28	Crypto license news	Positive	-0.2%	In-principle approval for AX Coin stablecoin license from Central Bank of Bahrain.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Crypto-focused announcements have seen muted or slightly negative next-day moves, while broader business updates (like revenue guidance) have drawn stronger positive reactions.

Recent Company History

Recent news for AXG highlights aggressive expansion in tokenization, stablecoin infrastructure, and AI payments. On Apr 21, 2026, preliminary fiscal 2026 revenue of $27M–$29M with a $11M–$13M net loss and $14M–$16M cash drove a 7.34% move. Earlier, a stablecoin license in Bahrain on Jan 28, 2026 led to only a -0.24% reaction. Today’s MOU with Singapore Gulf Bank extends that regulated stablecoin strategy into cross-border banking infrastructure.

Key Terms

stablecoin, cross-border payments, digital asset, tokenization, +1 more

5 terms

stablecoin financial

"AX Coin, the Company’s stablecoin issuance entity and a key subsidiary, has signed"

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

cross-border payments financial

"to deepen cooperation on stablecoin infrastructure, cross-border payments, and digital asset initiatives"

Cross-border payments are transfers of money between people, businesses, or banks in different countries, including wages, supplier invoices, investments, and customer purchases. They matter to investors because they affect a company’s cash flow, costs, and market access—think of them as the international pipes that move funds; if those pipes are slow, expensive, or unreliable, a company’s profits and growth can be reduced.

digital asset financial

"cooperation on stablecoin infrastructure, cross-border payments, and digital asset initiatives"

A digital asset is a representation of value or rights that exists only in electronic form—like digital versions of cash, stocks, or collectibles kept in a virtual wallet. They are transferred and recorded using computer systems that make copying or tampering difficult, and can include currencies, tokenized shares, or unique digital items. Investors care because digital assets can offer new ways to diversify, trade and raise capital, but they also bring different risks around price swings, custody and regulation.

tokenization technical

"stablecoin infrastructure and tokenization expertise with Singapore Gulf Bank’s strong banking"

Tokenization is the process of converting real-world assets or rights into digital tokens stored on a computer network. This allows assets, such as property or investments, to be divided into smaller parts, making them easier to buy, sell, or transfer electronically. For investors, tokenization can increase access to a wider range of investments and make transactions faster and more efficient.

payment rails technical

"and the co-creation of institutional-grade payment rails to serve corporate and institutional"

Payment rails are the networks and systems that move money electronically between buyers, sellers, banks and payment processors—think of them as the roads and tunnels that let cash travel from one place to another. They matter to investors because their speed, cost, reliability and geographic reach affect a business’s ability to collect revenue, control costs, expand into new markets and manage fraud risk, which in turn influences profitability and growth prospects.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MANAMA, Bahrain, May 05, 2026 (GLOBE NEWSWIRE) -- SOLOWIN HOLDINGS (Nasdaq: AXG) (“AXG” or the “Company”) today announced that AX Coin Bahrain B.S.C. (C) (“AX Coin”), the Company’s stablecoin issuance entity and a key subsidiary, has signed a non-binding Memorandum of Understanding (the “MOU”) with Singapore Gulf Bank (“SGB”) to deepen cooperation on stablecoin infrastructure, cross-border payments, and digital asset initiatives. The MOU was formalized at SGB’s headquarters in the Bahrain World Trade Center by Mr. Xavier George, CEO of AX Coin, and Mr. Frederic Boissieras, Director of SGB’s Financial Institutions Group. This strategic partnership marks a major milestone in the expansion of regulated stablecoin applications across the high-growth markets of Asia and the Middle East.

Under the MOU, both parties agree to collaborate on integrating AX Coin’s compliant stablecoin infrastructure with SGB’s banking and payment networks. Key areas of cooperation include exploring stablecoin-based cross-border settlement solutions, joint development of treasury management frameworks for digital assets, and the co-creation of institutional-grade payment rails to serve corporate and institutional clients.

Signing of the Memorandum of Understanding

Mr. Xavier George, CEO of AX Coin, stated: “This MOU with Singapore Gulf Bank represents a pivotal milestone in our mission to build a global, compliant stablecoin ecosystem. By combining AX Coin’s institutional grade stablecoin infrastructure and tokenization expertise with Singapore Gulf Bank’s strong banking infrastructure, we are well-positioned to deliver next-generation digital payment solutions that meet institutional standards across multiple jurisdictions.”

The partnership underscores both parties’ shared commitment to fostering innovation within a secure, compliant, and transparent regulatory framework.

Seated left to right: Xavier George (CEO of AX Coin) and Frederic Boissieras (Director of SGB’s Financial Institutions Group)

Standing left to right: Huda AlJawad (HR of AX Coin), Ali Moosa (Executive Vice Chairman of SGB), Mohamed AlEbrahim (Stablecoin Product Lead of AX Coin), Mohamed AlHashemi (Head of Reserve, Custody and FI of AX Coin)

About SOLOWIN HOLDINGS

SOLOWIN HOLDINGS is a leading global regulated fintech company. Established in 2016, AXG combines blockchain and artificial intelligence technologies to operate a fully compliant dual-token digital economy super platform. Guided by the mission “Mobilizing Tokens 24/7,” the Company operates two core business pillars: Digital Asset Tokens and Intelligent Asset Tokens. Its offerings span stablecoin issuance and payments, asset tokenization, securities trading and asset management, as well as AI-powered services including cloud infrastructure, Know-Your-Agent verification, and token router. Through its integrated ecosystem, including AXCOIN, AXONE, FERION, SOLOMON, SCION, and KOVAR, AXG empowers global institutions and investors to capitalize on the rapid growth of the dual-token economy.

For more information, visit alloyx.com or the investor relations webpage at ir.alloyx.com.

About Singapore Gulf Bank

Singapore Gulf Bank is a fully licensed digital wholesale bank that bridges traditional finance and the digital asset economy. Backed by Whampoa Group and Mumtalakat, the bank provides banking, digital asset management and stablecoin settlement services for businesses and individuals worldwide. SGB is regulated by the Central Bank of Bahrain.

For more information, visit sgb.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Company has attempted to identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) including the “Risk Factors” section of the Company’s most recent Annual Report on Form 20-F as well as in its other reports filed or furnished from time to time with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC, which are available for review at www.sec.gov.

For investor and media inquiries please contact:

SOLOWIN HOLDINGS
Investor Relations Department
Email: ir@solowin.io

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5150934-7655-4616-98a0-676bfe3a6184
https://www.globenewswire.com/NewsRoom/AttachmentNg/5059eeb8-2d6a-4707-870c-8b1d3c69467a
https://www.globenewswire.com/NewsRoom/AttachmentNg/5e9291e8-d96d-428a-bbe8-702c897362f7

FAQ

What did AXG announce about the MOU with Singapore Gulf Bank on May 5, 2026?

AXG announced a non-binding MOU between AX Coin Bahrain and Singapore Gulf Bank to cooperate on stablecoin and digital asset initiatives. According to the company, the agreement targets integration of AX Coin infrastructure with SGB banking and payment networks to explore cross-border and institutional solutions.

How will the AXG and SGB MOU affect cross-border payments for AXG (AXG)?

The MOU aims to explore stablecoin-based cross-border settlement solutions and institutional payment rails. According to the company, collaboration focuses on integrating AX Coin with SGB networks to pilot compliant cross-border payment and settlement use cases across Asia and the Middle East.

Who signed the AXG (AXG) MOU with Singapore Gulf Bank and where was it signed?

The MOU was signed by Xavier George, CEO of AX Coin, and Frederic Boissieras, Director of SGB’s Financial Institutions Group. According to the company, the signing occurred at Singapore Gulf Bank’s headquarters in the Bahrain World Trade Center on May 5, 2026.

What key cooperation areas are included in the AXG and SGB MOU (AXG)?

Key areas include stablecoin infrastructure integration, cross-border settlement, treasury management frameworks for digital assets, and institutional-grade payment rails. According to the company, these areas target corporate and institutional client services across multiple jurisdictions.

Is the AXG and SGB agreement binding and what are the next steps for AXG (AXG)?

The agreement is a non-binding Memorandum of Understanding focused on collaboration and exploration. According to the company, next steps involve joint development work and pilots to integrate AX Coin infrastructure with SGB’s banking and payments systems for institutional use.