AX Coin in Bahrain signs MOU with Codex to unlock new products
AX COIN BAHRAIN B.S.C. Closed (“AX Coin”), the regulated stablecoin issuer of AXG (Solowin Holdings), signed an Memorandum of Understanding (the “MOU”) with Codex , a stablecoin-native FX platform serving institutional and enterprise clients, as the parties explore commercial and product collaboration across their respective technology and service offerings.
AX Coin, the first regulated stablecoin in Bahrain that is Sharia compliant and Code FX, a stablecoin native FX platform for cross border transactions, will evaluate opportunities to align complementary product lines, including areas where AX COIN’s digital-asset, treasury, tokenization, and related platform capabilities may sit alongside Codex’s stablecoin-native FX product suite.
This strategic collaboration is intended to provide a structured basis for assessing how closer product alignment will support institutional clients operating at the intersection of traditional finance and digital assets. Subsequent arrangements will be separately agreed and announced.
Xavier George, Managing Director of AXG (Solowin Holdings) and CEO of AX Coin, explained that the MOU with Codex is a commitment to building the connective tissue between regulated stablecoin infrastructure and the FX rails that institutions already rely on. He adds, “By exploring how AX Coin’s issuance, treasury, and tokenization capabilities can complement Codex’s stablecoin-native FX platform, we aim to create a more seamless experience for institutional clients navigating the intersection of traditional finance and digital assets.”
Earlier in October, AX Coin, partnered with UAE and Bahrain regulated ARP Digital on Institutional Liquidity and Settlement which will connect regulated stablecoin infrastructure with institutional OTC liquidity and settlement rails across GCC and International markets. The partnership will initially focus on Bahrain and UAE.
