Ripple, a digital asset infrastructure provider for financial institutions, has partnered with Bahrain Fintech Bay (BFB), the Kingdom’s
leading fintech incubator and ecosystem builder which partners with government bodies and others to further accelerate the development and adoption of blockchain and digital assets technology in Bahrain.
As per the press release, the agreement will see Ripple and Bahrain Fintech Bay working together through a range of activities including supporting the development of proofs-of-concept and pilot projects relevant to Bahrain’s fintech ecosystem; showcasing solutions across areas such as blockchain technology, cross-border payments, digital assets, stablecoins, and tokenization; leading knowledge initiatives through educational collaborations and accelerator programs; and participating in dedicated local ecosystem events to foster new industry partnerships and drive innovation.
“The Kingdom of Bahrain, has emerged as an early adopter of blockchain technology, and was one of the first jurisdictions globally to regulate crypto assets,” said Reece Merrick, Managing Director, Middle East and Africa at Ripple. “At Ripple we look forward to working with Bahrain Fintech Bay to continue laying the foundations for a thriving local blockchain industry, as well as ultimately offering our digital assets custody solution and stablecoin Ripple USD (RLUSD) to Bahrain’s financial institutions.”
“Bahrain has long been recognized as a financial services hub, and today this legacy is being further enhanced in the digital assets and blockchain space. This partnership with Ripple reflects Bahrain FinTech Bay’s commitment to bridging global innovators with the local ecosystem, creating opportunities for pilots, talent development, and cutting-edge solutions that will shape the future of finance. Together,
we are delivering on our goal of enhancing fintech innovation in the region,” said Suzy Al Zeerah, Chief Operating Officer at Bahrain Fintech Bay.
This comes as Bahrain Central Bank recently announced its stablecoin legislation, allowing stablecoin developers to launch Bahrain denoted stablecoins as well as USD stablecoins in the country.
