Solowin's (AXG) AX Coin Bahrain stablecoin issuer said Friday that it has signed a non-binding memorandum of understanding with Infinios Financial Services to develop regulated wallet infrastructure and digital payment solutions to increased stablecoin adoption.

Stablecoins are a type of cryptocurrency whose value is tied to an external asset.

AX Coin Bahrain said the partnership will focus on digital asset integration based on a comprehensive, regulated wallet stack.

Under the agreement, AX Coin will plug directly into Infinios' payments infrastructure, which will allow the companies to enable custodial and non-custodial wallet solutions using regulated third party and partner frameworks, multi-currency virtual accounts, and seamless fiat on/off ramps for stablecoins.