AX Coin and INFINIOS signed a non-binding MoU to build regulated wallet infrastructure and stablecoin payment rails in Bahrain, including fiat on and off ramps.
AX Coin announced a new partnership with INFINIOS to develop regulated wallet infrastructure for stablecoin payments. AX Coin is the stablecoin issuer under AXG and it said it has in-principle approval from the Central Bank of Bahrain.
Under the MoU, AX Coin will plug into INFINIOS’ payments infrastructure. The goal is to support both custodial and non-custodial wallets. Custodial means a regulated provider holds the crypto keys for you, like a bank holds your money. Non-custodial means the user holds their own keys, like keeping cash in your own wallet.
The planned wallet stack also includes multi-currency virtual accounts and fiat on and off ramps. A fiat on ramp lets users buy stablecoins using traditional money like dollars or dinars. An off ramp lets them convert stablecoins back to traditional money and send it to bank accounts.
AX Coin said the integration is aimed at institutional clients that need compliance, reporting, and reconciliation. It also includes full API integration, meaning companies can connect their own software directly to the payment and wallet services.
For cross-border payments, stablecoins are often pitched as a faster settlement tool, but usage can stall without clear compliance and banking links. This MoU focuses on those practical pieces, regulated custody options, clear reporting, and connections to banking partners.
For African fintech operators and diaspora payment builders, Bahrain is becoming a place to watch for regulated digital asset infrastructure that can connect into global banking networks. This deal suggests more stablecoin infrastructure providers are prioritising wallets, on and off ramps, and B2B settlement flows over consumer trading features.
There is one key caveat. The MoU is non-binding, so timelines, commercial terms, and the final product scope could still change.
Primary Source: AlloyX
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