Solowin's AX Coin Teams with BBK to Build Institutional Stablecoin Infrastructure
Event summary
- AX Coin, a Solowin subsidiary, signed an MOU with BBK to explore regulated stablecoin infrastructure for institutional banking.
- The partnership aims to support payments, treasury operations, and cross-border settlement using stablecoins.
- Up to $1 trillion in emerging market bank deposits could migrate to stablecoins by 2028, per recent projections.
- BBK brings banking expertise while AX Coin provides licensed digital asset infrastructure.
The big picture
This partnership underscores the accelerating institutional demand for stablecoins, particularly in cross-border payments and treasury management. With projections of $1 trillion migrating to stablecoins by 2028, traditional banks like BBK are increasingly collaborating with fintech firms to modernize financial infrastructure. The deal highlights Bahrain's emerging role as a hub for regulated digital finance innovation.
What we're watching
- Regulatory Compliance
- How Bahrain's regulatory framework will shape the adoption of stablecoins in institutional banking.
- Market Adoption
- The pace at which traditional banks integrate stablecoin solutions for cross-border transactions.
- Competitive Dynamics
- Whether Solowin can sustain its lead in regulated stablecoin infrastructure amid growing competition.
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