Bahrain Launches First Bitcoin Investment Fund

The National Bank of Bahrain (NBB) has launched its first Bitcoin investment fund in collaboration with the digital asset company ARP Digital.

Bahrain Launches First Bitcoin Investment Fund

The National Bank of Bahrain (NBB) has reached a significant milestone by officially launching the first Bitcoin investment fund. This initiative is designed to cater to institutional investors in the Gulf Cooperation Council, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).

The fund was created in close collaboration with digital asset firm ARP Digital. It provides investors with access to Bitcoin in a structure that offers:

  • Returns capped at a predefined threshold
  • 100% capital protection in the event of a price drop
Collaboration image between NBB and ARP Digital
Collaboration image between NBB and ARP Digital

Abdullah Kanoo, co-founder of ARP Digital, shared his vision for the new product:

This investment structure opens new doors for investors seeking a more calculated approach to digital assets. Thanks to ARP Digital’s expertise and NBB’s extensive financial industry connections, this product offers exposure to Bitcoin within a safe and secure framework.

Bahrain is gradually becoming an attractive destination for digital asset businesses due to its continuous efforts to build an “innovation-friendly crypto and fintech ecosystem.” The country has successfully established a clear regulatory framework that balances consumer protection with the promotion of commercial opportunities.

In addition to Bahrain, the UAE has also made significant progress in refining its regulations. In 2023, the Dubai Virtual Assets Regulatory Authority (VARA) released comprehensive crypto regulations for Web3 companies, including four mandatory rulebooks and detailed regulations governing the operations of virtual asset service providers.

Related: UAE Leads the World in Cryptocurrency Adoption

According to the latest report from Chainalysis, the Middle East and North Africa (MENA) region accounted for 7.5% of the global cryptocurrency transaction volume between July 2023 and June 2024, with total transaction value reaching $338.7 billion. Notably, institutional and professional investors played a leading role in these transactions.

Source: Chainalysis
Source: Chainalysis

Although the majority of on-chain transactions still occur through centralized exchanges, both the UAE and Saudi Arabia have shown a “strong interest” in decentralized platforms, indicating a promising future for the digital asset market in the region.

Love

0.0/5

Love

Latest

How To Participate In The Yupp Airdrop

Airdrops | Editor Choice

How to Participate in the Yupp Airdrop

Join the Yupp airdrop! The AI development platform has successfully raised $33 million and is allowing users to earn points.

Pengu Surges 10% Amid Market Slump

News | Editor Choice | Memecoin

PENGU Surges 10% Amid Market Slump

Amid a sluggish crypto market, meme coin PENGU has surged nearly 10%, but technical indicators suggest this rally may soon lose steam.

Two Satoshi Era Whales Suddenly Wake Up, Move 20,000 Btc

Bitcoin | Editor Choice

Two “Satoshi Era” Whales Suddenly Wake Up, Move 20,000 BTC

Two wallet addresses holding 10,000 Bitcoin each have unexpectedly become active after 14 years of inactivity, raising concerns about a potential sell-off.

Nano Labs Spends $50m On Bnb, But Stock Price Keeps Falling

News | Altcoin | Editor Choice

Nano Labs Spends $50M on BNB, But Stock Price Keeps Falling

Nano Labs boldly spent $50 million on BNB in a bid to build a $1 billion reserve, but its stock price continues to plunge despite the ambitious investment strategy.

Ripple Mints Additional 16 Million Rlusd With Support From Amina Bank

News | Altcoin | Editor Choice

Ripple Mints Additional 16 Million RLUSD with Support from AMINA Bank

Ripple has minted an additional 16 million RLUSD as Switzerland’s AMINA Bank becomes the first global financial institution to support the stablecoin, marking a significant step in bridging traditional finance with blockchain technology.