Five things to watch in markets in the week ahead
HONG KONG - Financial services firm Solowin Holdings (NASDAQ:SWIN), currently valued at $152.73 million, announced its class A ordinary shares will begin trading under the new ticker symbol "AXG" on the Nasdaq Stock Market starting Friday, October 10, 2025. The company’s stock has shown remarkable momentum, gaining nearly 110% over the past six months.
The ticker change reflects the company’s strategic shift toward Web3 business following its September acquisition of AlloyX Limited, a financial technology company specializing in digital asset infrastructure. Solowin’s current ticker "SWIN" will remain active until market close on Thursday. According to InvestingPro, the company maintains a relatively healthy balance sheet with a current ratio of 1.29 and low debt-to-equity ratio of 0.23.
As part of its transformation, Solowin is developing AX Coin, a stablecoin designed for global commerce and settlement, and has launched Ferion, a platform for real-world asset tokenization.
The company’s subsidiary, Solomon JFZ (Asia) Holding Limited, holds crypto licenses from Hong Kong’s Securities & Futures Commission and serves as a participating dealer in Hong Kong’s spot Bitcoin and Ethereum ETFs.
"AXG embodies our new vision and strategic direction," said Peter Lok, CEO of Solowin, in the press release. "Through deliberate strategic initiatives and acquisitions, we are building a bridge between traditional finance and the crypto world." While the company shows strong growth potential, InvestingPro data reveals current challenges with profitability, reporting a loss per share of $0.53 in the last twelve months. Unlock 8 additional exclusive InvestingPro Tips to better understand Solowin’s investment potential.
The company also announced plans for AX Venture, a $100 million ecosystem fund focused on stablecoin infrastructure, tokenization technology, and real-world asset liquidity.
No action is required from existing shareholders regarding the ticker change, and the company’s CUSIP number will remain unchanged.
In other recent news, Solowin Holdings has completed its $350 million acquisition of AlloyX Limited, a stablecoin infrastructure provider. This acquisition, which integrates AlloyX’s technology and team into Solowin’s ecosystem, includes a 12-month lock-up period for all selling shareholders, ensuring the retention of key technical talent. In another development, Solowin is in advanced talks to acquire a U.S.-licensed financial institution through an affiliate, aiming for a clean-charter acquisition to secure a regulated banking platform. Additionally, Solowin has launched its Dubai Operations Center and is applying for a Category 3C asset management license from the Dubai International Financial Centre. The company has also signed a memorandum of understanding with a UAE enterprise to accelerate its entry into the local financial services market.
Meanwhile, Reitar Logtech Holdings has signed a Strategic Cooperation Memorandum of Understanding with AI logistics company NEXX to establish Qatar’s first Smart Fulfillment Center. The facility, located in Milaha Logistics City in Doha, is expected to begin operations in the fourth quarter of 2025. Reitar will invest in the project’s automation system and equipment through its subsidiary, KAMUI Logistics Automation System Limited. These recent developments highlight the companies’ strategic moves in expanding their operational and technological capabilities.
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