AX Coin, a subsidiary of Solowin Holdings, said its AXBHD stablecoin has received Sharia compliance certification in Bahrain. According to the company, it is the first stablecoin regulated by the Central Bank of Bahrain (CBB) to achieve the certification.
The review was conducted by Shariyah Review Bureau (SRB), a Sharia advisory and audit firm licensed by the CBB. It covered AXBHD’s issuance mechanism, reserve investment framework, governance structure and revenue model against Islamic finance principles.
SRB will provide ongoing Sharia governance oversight as AX Coin expands its portfolio of regulated stablecoin offerings. The company said the certification supports its plans for the stablecoin’s official launch and reflects its focus on transparency, governance and compliance with Islamic finance principles.
Source: EntArabi
