Bahrain FinTech Bay has announced a strategic partnership with AlloyX, a subsidiary of Solowin Holdings, to accelerate the development and adoption of regulated stablecoin applications. The collaboration aims to further solidify the Kingdom’s standing as a leading regional hub for digital finance and innovation.
Bolstering The Kingdom’s Digital Finance Ecosystem
Under the new collaboration, AlloyX will leverage Bahrain FinTech Bay’s robust innovation ecosystem to explore and pioneer next-generation stablecoin application scenarios. The partnership will involve leading global and regional payments and technology partners, creating a comprehensive network for development.
This initiative coincides with AlloyX’s ongoing efforts to secure regulatory approval for the market launch of its stablecoin, positioning Bahrain as a key jurisdiction for its regional operations.
A Strategic Vision for The GCC
Leaders from AlloyX emphasized the partnership’s alignment with their regional growth strategy and the supportive environment provided by Bahrain.
Dr. Thomas Zhu, Co-Founder and CEO of AlloyX, stated, “This partnership with Bahrain FinTech Bay aligns closely with our vision for the future of digital finance. We are committed to building compliant and scalable stablecoin solutions in Bahrain, driving tangible benefits for the GCC region and its global counterparts.”
Xavier George, Managing Director of AlloyX, added, “As we accelerate our leadership position in the region, this strategic collaboration lays a strong foundation for future innovations to come. We appreciate the amazing support from the Bahrain FinTech Bay leadership team as we progress toward the launch of our stablecoin.”
About Bahrain FinTech Bay
Founded in 2018, Bahrain FinTech Bay (BFB) is the Kingdom’s leading ecosystem builder dedicated to advancing innovation and collaboration across financial services. As a subsidiary of The BENEFIT Company, BFB incubates impactful fintech initiatives through innovation labs, acceleration programs, and educational opportunities, connecting government bodies, financial institutions, corporates, and startups to drive digital transformation.
About AlloyX
AlloyX Limited, a subsidiary of Solowin Holdings (Nasdaq: AXG), serves as a bridge between traditional finance and the digital assets ecosystem. The company operates across stablecoin payments, tokenization services, digital brokerage, and on-chain financial infrastructure. By integrating traditional brokerage and banking systems with blockchain technology, AlloyX delivers secure and efficient digital financial solutions for institutions.
Source: Investing.com
