Solowin targets 100 megawatts of AI power by 2028 as Congress stalls on crypto

While Congress remains stuck in a legislative holding pattern on crypto regulation, a Hong Kong-based fintech company is quietly building out a massive AI and computing infrastructure footprint on American soil. Solowin Holdings, which trades on NASDAQ under the ticker AXG, has set its sights on more than 100 megawatts of operational AI and high-performance computing capacity by 2028 through its new US division.

That division, called AXG Digital, is headquartered in Utah and was launched in August 2026. To put 100 MW in perspective, that’s enough power to run roughly 80,000 homes, or more practically, enough to support a serious chunk of enterprise AI workloads at a time when demand for GPU compute is outstripping supply across the industry.

From fintech firm to infrastructure play

Solowin has a global development pipeline exceeding 1 gigawatt of potential capacity, spanning Europe, the US, and sub-Arctic markets. The company reported nearly 10x year-on-year revenue growth, reaching approximately $28 million for its fiscal year 2026, which ended March 31, 2026.

The company’s strategy rests on what it calls a dual-pillar model. One pillar, “Digital Asset Tokens,” covers stablecoin issuance and real-world asset tokenization. The other, “AI Tokens,” delivers enterprise AI infrastructure through a platform called KOVAR. The approach to data center buildout leans on modular technology and strategic access to power, particularly in regions where electricity is cheap and cooling is either inexpensive or provided by geography. Sub-Arctic locations offer natural cooling advantages that can dramatically reduce operating costs for compute-intensive facilities.

Stablecoins, Sharia certification, and regulatory positioning

The company’s stablecoin operations in Bahrain have secured a full license along with Sharia certification. Solowin has also been forging strategic partnerships. It signed a memorandum of understanding with EvolveQ for AI-quantum computing integration and previously cooperated with SC Ventures, the innovation arm of Standard Chartered, on AI-driven payments.

Solowin’s founding entity, Hong Kong subsidiary Solomon JFZ, was established in 2016 as a securities brokerage. Following a merger with AlloyX Group, the firm rebranded to AXG in October 2025.

What this means for the AI infrastructure race

Solowin’s 100 MW target by 2028 requires significant capital expenditure, construction timelines that don’t slip, and customers willing to sign long-term contracts. The 1 GW pipeline figure represents potential capacity across sites at various stages of development, from land acquisition to permitting to construction.

The risk sits with execution and regulation. If Congress eventually passes stablecoin legislation that favors domestically licensed issuers, Solowin’s Bahrain-based operations might need restructuring to serve US customers. If power costs spike or permitting delays extend timelines, the 2028 target could slip. And a nearly 10x revenue jump, while impressive, needs to prove repeatable rather than one-off.

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