SOLOWIN HOLDINGS (NASDAQ:AXG) ("AXG" or the "Company"), a leading financial technology firm bridging traditional and digital assets, today announced that AX Coin Bahrain B.S.C. (C) ("AX Coin"), the Company's stablecoin issuance entity and a key subsidiary, has signed a non-binding Memorandum of Understanding (the "MOU") with The Benefit Company B.S.C. (C) ("BENEFIT"), the Kingdom of Bahrain's national electronic financial transactions hub. The MOU was signed during a ceremony at the BENEFIT office on May 6, 2026 by Xavier George, Managing Director of AlloyX Limited and CEO of AX Coin, and Abdulwahed AlJanahi, Chief Executive of BENEFIT.

The MOU establishes a framework for the two parties to jointly explore how stablecoin technology, which remains an emerging area of financial infrastructure, could complement Bahrain's national payments ecosystem over time. Given the early stage of regulated stablecoin adoption globally, the MOU is intended to serve as a structured starting point for assessment and dialogue between the two parties.

Under the MOU, AX Coin and BENEFIT will examine a range of potential applications across the payments landscape. The parties will also explore whether and how stablecoin capabilities could, subject to regulatory and technical feasibility, interface with BENEFIT's existing national payments infrastructure.

AX Coin has received in-principle approval from the Central Bank of Bahrain. The collaboration with BENEFIT is intended to support continued exploration within Bahrain's regulated framework, and to contribute to a better understanding of how digital asset-based solutions could be applied in the region's broader financial landscape.

The initiative aligns with BENEFIT's broader strategy of exploring opportunities that could, over time, extend the reach of Bahrain's payments ecosystem, while ensuring that any such opportunity is assessed carefully against the technological, regulatory, and commercial considerations that apply to emerging digital asset infrastructure.