Solowin Holdings (NASDAQ: AXG) reported fiscal 2026 revenue of $28.05 million, an increase of approximately 895% compared to $2.82 million a year earlier. The growth was fueled by a 395% rise in stablecoin and fiat trading volume, which reached $1.04 billion, and a 347% increase in client assets under administration, totaling $848.8 million. These results underscore the company's expanding footprint in the digital asset sector.
The announcement comes as the global stablecoin market capitalization hit $311 billion in 2025, with annualized stablecoin payments estimated at $390 billion based on December 2025 activity. Notably, approximately $226 billion of those payments were business-to-business transactions, indicating that stablecoins are increasingly being used for commercial purposes beyond speculative trading. This trend suggests a broader adoption of digital assets for real-world payments and settlements.
AX Coin Bahrain, a subsidiary of Solowin Holdings, received its full stablecoin issuer license in June 2026. Following this milestone, AXG outlined its priorities: commercializing its stablecoins AXUSD and AXBHD, integrating with banking and payment partners, and developing payment corridors between the Gulf Cooperation Council (GCC) and Asia, as well as between the GCC and Africa. These initiatives aim to facilitate cross-border payments and remittances, leveraging the efficiency and cost-effectiveness of stablecoins.
Chairman and CEO Ling Ngai Lok emphasized the company's "license-first" approach in light of evolving U.S. digital asset regulation. He pointed to AXG's central-bank oversight in Bahrain and its engagement with Hong Kong's Securities and Futures Commission (SFC) framework. "When the U.S. rules land, we won't be scrambling. We'll be operating," Lok stated. "Washington's delay isn't a threat to us. It's runway." This proactive regulatory strategy could give AXG a competitive advantage as global stablecoin regulations continue to develop.
The implications of Solowin's performance and strategy are significant. The rapid revenue growth demonstrates that demand for regulated stablecoin services is surging. By obtaining a stablecoin issuer license in Bahrain and aligning with Hong Kong's regulatory framework, AXG is positioning itself as a compliant player in a market that is increasingly scrutinized by regulators worldwide. The company's focus on B2B payments and cross-border corridors could capture a share of the $226 billion in annualized business-to-business stablecoin payments.
For more information, visit the company's website at https://www.alloyx.com or its Investor Relations page at https://ir.alloyx.com. The full press release is available at https://ibn.fm/YBsAi.
