AXG’s AX Coin Signs MOU with Singapore Gulf Bank to Advance Stablecoin and Digital Asset Cooperation

MANAMA, Bahrain – May 5, 2026 – AXG today announced that AX Coin Limited (“AX Coin”), the Company’s stablecoin issuance entity and a key subsidiary, has signed a non-binding Memorandum of Understanding (the “MOU”) with Singapore Gulf Bank (“SGB”) to deepen cooperation on stablecoin infrastructure, cross-border payments, and digital asset initiatives. The MOU was formalized at SGB’s headquarters in the Bahrain World Trade Center by Mr. Xavier George, Managing Director of AlloyX Limited and CEO of AX Coin, and Mr. Frederic Boissieras, Director of SGB’s Financial Institutions Group. This strategic partnership marks a major milestone in the expansion of regulated stablecoin applications across the high-growth markets of Asia and the Middle East.

Under the MOU, both parties agree to collaborate on integrating AX Coin’s compliant stablecoin infrastructure with SGB’s banking and payment networks. Key areas of cooperation include exploring stablecoin-based cross-border settlement solutions, joint development of treasury management frameworks for digital assets, and the co-creation of institutional-grade payment rails to serve corporate and institutional clients.

Signing of the Memorandum of Understanding

Mr. Xavier George, Managing Director of AlloyX Limited and CEO of AX Coin stated: “This MOU with Singapore Gulf Bank represents a pivotal milestone in our mission to build a global, compliant stablecoin ecosystem. By combining AX Coin’s institutional grade stablecoin infrastructure and tokenization expertise with Singapore Gulf Bank’s strong banking infrastructure, we are well-positioned to deliver next-generation digital payment solutions that meet institutional standards across multiple jurisdictions.”

The partnership underscores both parties’ shared commitment to fostering innovation within a secure, compliant, and transparent regulatory framework.

Seated left to right: Xavier George (CEO of AX Coin) and Frederic Boissieras (Director Financial Institutions Group SGB)

Standing left to right: Huda AlJawad (HR of AX Coin), Ali Moosa (Executive Vice Chairman of SGB), Mohamed AlEbrahim (Stablecoin Product Lead of AX Coin), Mohamed AlHashemi (Head of Reserve, Custody and FI of AX Coin)

About AXG

AXG is a leading global regulated fintech company. Established in 2016, AXG combines blockchain and artificial intelligence technologies to operate a fully compliant dual-token digital economy super platform.

Guided by the mission “Mobilizing Tokens 24/7”, the Company operates two core business pillars: Digital Asset Tokens and AI Tokens. Its offerings span stablecoin issuance and payments, asset tokenization, securities trading and asset management, as well as AI-powered services including cloud infrastructure, Know-Your-Agent verification, and token router.

Through its integrated ecosystem, including AX Coin, AX ONE, FERION, SOLOMON, SCION, and KOVAR, AXG empowers global institutions and investors to capitalize on the rapid growth of the dual-token economy.

For more information, visit www.alloyx.com.

About Singapore Gulf Bank

Singapore Gulf Bank (SGB) is a fully licensed digital wholesale bank that bridges traditional finance and the digital asset economy. Backed by Whampoa Group and Mumtalakat, the bank provides banking, digital asset management and stablecoin settlement services for businesses and individuals worldwide. SGB is regulated by the Central Bank of Bahrain.

For more information, visit www.sgb.com.