Solowin Holdings' Stablecoin Earns Sharia Certification

Solowin Holdings (NASDAQ: AXG) 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 review was conducted by Shariyah Review Bureau W.L.L., which evaluated AXBHD's issuance mechanism, reserve investment framework, governance arrangements, and revenue model for compliance with Islamic finance principles. The certification also establishes an ongoing Sharia governance framework, reinforcing Solowin's commitment to transparency and responsible governance as it prepares to launch the stablecoin.

This development is significant as it addresses the growing demand for Sharia-compliant digital assets in the Islamic finance market, which is estimated to be worth trillions of dollars. By obtaining Sharia certification, AXBHD could appeal to a broader range of investors and institutions, particularly in regions where Islamic finance is prominent. This move may also set a precedent for other stablecoin issuers seeking to cater to this market segment.

The certification is part of Solowin's broader strategy to operate a fully compliant dual-token digital economy super platform, combining blockchain and artificial intelligence technologies. The company's ecosystem includes AX COIN, AX ONE, FERION, SOLOMON, SCION, and KOVAR, and it offers services such as stablecoin issuance, asset tokenization, securities trading, and AI-powered services. This milestone could enhance Solowin's positioning in the digital asset space and attract partnerships with Islamic financial institutions.

For more information, visit Solowin Holdings or its Investor Relations webpage. The full press release is available at this link.