SOLOWIN’s AX Coin wins Bahrain in-principle license nod

SOLOWIN HOLDINGS reported that AX Coin, the stablecoin issuance entity under its AlloyX Group subsidiary, has received an In-Principle Approval letter for a stablecoin license from the Central Bank of Bahrain, subject to final regulatory approval.

Rhea-AI Filing Summary

SOLOWIN HOLDINGS reported that AX Coin, the stablecoin issuance entity under its AlloyX Group subsidiary, has received an In-Principle Approval letter for a stablecoin license from the Central Bank of Bahrain, subject to final regulatory approval.

The company states that AX Coin is the first stablecoin issuer to obtain this in-principle license status in Bahrain. Management sees this as a step toward launching a compliant stablecoin and building a stablecoin ecosystem across the Middle East and Africa, aligning with its strategy of bridging traditional and digital finance.

Positive

• AX Coin receives in-principle stablecoin license approval from the Central Bank of Bahrain, establishing a regulated pathway for SOLOWIN’s stablecoin business in a key Middle East financial center, subject to final approval.

Negative

• None.

Insights

Digital assets and fintech regulation analyst

In-principle approval in Bahrain advances AXG’s regional stablecoin ambitions.

SOLOWIN HOLDINGS reports that AX Coin has received an In-Principle Approval letter for a stablecoin license from the Central Bank of Bahrain, with full authorization still pending final regulatory approval. This establishes a formal regulatory pathway in a recognized financial hub.

The company highlights that AX Coin is the first stablecoin issuer to secure this in-principle status in Bahrain, which may help its positioning in the Middle East and Africa stablecoin market. Actual commercial impact will depend on obtaining final approval and successfully launching and scaling the stablecoin within the stated regulatory framework.

The disclosure ties this development to AlloyX Group’s broader ecosystem strategy, including payments and tokenization services. Subsequent updates on conversion of this in-principle status into a full license and on any initial deployment or adoption metrics in the MEA region will be important for assessing business traction.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did SOLOWIN HOLDINGS (AXG) announce in this 6-K filing?

SOLOWIN HOLDINGS announced that AX Coin, part of its AlloyX Group subsidiary, received an In-Principle Approval letter for a stablecoin license from the Central Bank of Bahrain, marking a key regulatory milestone subject to final approval.

What is the significance of AX Coin’s approval from the Central Bank of Bahrain for AXG?

AX Coin’s in-principle license approval from the Central Bank of Bahrain positions SOLOWIN HOLDINGS within a regulated framework for stablecoin issuance in Bahrain, supporting its strategy to develop a compliant stablecoin ecosystem across the Middle East and Africa region.

Is AX Coin fully licensed as a stablecoin issuer in Bahrain yet?

No. AX Coin has received an In-Principle Approval letter for a stablecoin license from the Central Bank of Bahrain. The company states this status remains subject to final regulatory approval before full licensing and launch can occur.

Why does SOLOWIN HOLDINGS emphasize being the first stablecoin issuer with this approval in Bahrain?

The company states that AX Coin is the first stablecoin issuer granted in-principle license approval in Bahrain. This first-mover status may help its competitive positioning as it builds a regulated stablecoin and related services across the Middle East and Africa region.

How does AX Coin fit into SOLOWIN HOLDINGS’ overall business strategy?

AX Coin is described as the stablecoin issuance entity under AlloyX Group, a key subsidiary of SOLOWIN HOLDINGS. Together with other licensed subsidiaries, it supports the company’s goal to bridge traditional and decentralized finance through regulated digital payments and tokenization solutions.

Which subsidiary of SOLOWIN HOLDINGS is associated with the new stablecoin license approval?

The approval relates to AX Coin, which is the stablecoin issuance entity under AlloyX Group. AlloyX Group is identified as a key subsidiary of SOLOWIN HOLDINGS, contributing to its multi-jurisdictional, enterprise-grade digital asset platform strategy.

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Accepted by SEC EDGAR 01/28/2026 - 12:30 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number 001-41776

SOLOWIN HOLDINGS

(Translation of registrant’s name into English)

Room 1910-1912A, Tower 3, China Hong Kong City

33 Canton Road, Tsim Sha Tsui, Kowloon

Hong Kong

 (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒       Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: January 28, 2026	SOLOWIN HOLDINGS
	By:	/s/ Ling Ngai Lok
		Ling Ngai Lok
		Chief Executive Officer

1

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release dated January 28, 2026.

2

Exhibit 99.1

SOLOWIN HOLDINGS’s AX Coin Becomes the First Stablecoin Issuer Granted In-Principle License Approval from the Central Bank of Bahrain

Bahrain, Manama Jan. 28, 2026 (GLOBE NEWSWIRE) — SOLOWIN HOLDINGS (NASDAQ: AXG) (“AXG” or the “Company”), a leading financial technology firm bridging traditional and digital assets, today announced that AX Coin, the stablecoin issuance entity under AlloyX Group, a key subsidiary of the Company, has received an In-Principle Approval letter for a stablecoin license from the Central Bank of Bahrain (“CBB”), subject to final regulatory approval.

Dr. Thomas Zhu, Co-Founder and Chief Executive Officer of AlloyX Group, commented: “We would like to express our gratitude to the Central Bank of Bahrain for its guidance over the past six months. We look forward to launching a compliant stablecoin within the regulatory framework and driving the development of AlloyX Group’s stablecoin ecosystem across the Middle East and Africa (MEA) region and beyond.”

About SOLOWIN HOLDINGS

SOLOWIN HOLDINGS (NASDAQ: AXG) is a global leading financial technology firm focused on digital currency payments and asset tokenization. Founded in 2016, it has dedicated to bridging traditional and decentralized finance by building a secure, efficient and compliant financial infrastructure that provides integrated digital asset solutions for global investors and institutions. Leveraging its Hong Kong Securities and Futures Commission (SFC)-licensed subsidiary Solomon JFZ (Asia) Holdings Limited, along with other key subsidiaries such as AlloyX Group and AX Coin, the Company has developed a multi-jurisdictional, vertically integrated, enterprise-grade new financial platform encompassing global stablecoin payments, corporate treasury and private wealth management and tokenization as a service. Backed by leading international institutional investors, the Company manages compliant and transparent digital assets that are closely connected to the real economy. The Company is committed to establishing itself as a leading global digital asset financial platform, driving the seamless convergence of traditional finance and the digital assets ecosystem.

For more information, visit the Company’s website at https://www.alloyx.com or investor relations webpage at https://ir.alloyx.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@solomonwin.com.hk

Ascent Investor Relations LLC

Tina Xiao

Phone: +1-646-932-7242

Email: investors@ascent-ir.com