Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Reece Merrick, Senior Executive Officer/Managing Director of Middle East and Africa at Ripple, shares some big news on X: Ripple is expanding into the Kingdom of Bahrain.
In major news, Ripple announced today a strategic partnership 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.
Merrick noted that the new partnership with Bahrain's FinTech Bay is expected to drive adoption and education around blockchain, as well as support pilot projects across Bahrain’s digital asset ecosystem.
This move builds on Ripple’s growing presence in the Middle East and paves the way for the company to begin offering its products to institutions in Bahrain in due course.
More on partnership
The recent partnership move extends Ripple’s presence in the Middle East, building on a Dubai regulatory license secured earlier this year.
The collaboration will see Ripple and Bahrain FinTech Bay positively contribute to the kingdom’s digital assets ecosystem by 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.
This will also enable Ripple to offer its digital assets custody solution and stablecoin Ripple USD (RLUSD) to Bahrain’s financial institutions.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team