Bahrain is following the Bitcoin movement. When we talk about crypto adoption, we immediately think of Southeast Asia, with Singapore and Hong Kong at the forefront of innovation, but the Persian Gulf region is also one of the places in the world where initiatives are multiplying the most. In the United Arab Emirates, Saudi Arabia, and Qatar, the private and public sectors are working together to experiment with blockchain and cryptocurrencies and provide investors with all the tools necessary to embrace these new technologies.
Today we head to Bahrain to see how this small island state of less than 2 million inhabitants intends to make its mark on the international Web3 scene thanks to the launch of a Bitcoin investment fund dedicated to institutional players in the sub-region.
The National Bank of Bahrain and ARP Digital are at the helm
This is an announcement that should make a splash, given the significant economic power of the players involved! The National Bank of Bahrain (NBB) will launch an investment fund dedicated to Bitcoin, which will be the very first within the Gulf Cooperation Council, which brings together six countries in the region: Saudi Arabia, Oman, Kuwait, the United Arab Emirates, Qatar, and Bahrain.
In partnership with the digital asset companyARP Digital, the NBB will therefore offer an investment vehicle dedicated toinstitutional actorsof the sub-region in search of a wayregulatedAnd secureto gain exposure to the promising cryptocurrency market and more specifically to Bitcoin.
United Arab Emirates, Saudi Arabia and Qatar, all crazy about Bitcoin in the region!
Reactions to the announcement of the upcoming creation of this fund were not long in coming, starting with the words of the Director General of the National Bank of Bahrain:
“We are proud to introduce this tailor-made structured investment that combines exposure to digital assets with security and capital protection. This product underscores our commitment to offering our wealth management clients innovative and secure ways to diversify their portfolios in an evolving investment landscape.”
Hisham AlKurdi, Managing Director of the National Bank of Bahrain – Source: Khaalej Times
The same story from ARP Digital, with this statement from the co-founder and co-CEO:
“Our collaboration with NBB is poised to be a game-changer in the regional market. By leveraging our expertise in digital assets and NBB’s extensive reach in the financial sector, we have created a product that introduces Bitcoin exposure in a highly secure framework. This structured investment opens new doors for investors seeking a calculated approach to digital assets.”
Abdulla Kanoo, Co-founder and Co-CEO of ARP Digital – Source: Khaleej Times
As you can see, the key to this operation is reassuring investors. The NBB has implemented a system of capped gains and limited losses, making this fund a balanced and reassuring financial product, ideal for attracting investors who are risk-averse but still attracted to Bitcoin.
The Persian Gulf countries have embarked on a race for innovation in the cryptocurrency sector, and the small state of Bahrain is intent on catching up with its neighbors with this innovative fund. Meanwhile, the United Arab Emirates is passing laws that further relax VAT on crypto transfers, and Qatar is also regulating the sector. When we told you that the Middle East was competing with the Far East, we weren't lying!
