Originally published on: October 07, 2024
National Bank of Bahrain recently made waves by launching its very first Bitcoin investment fund, tailored for institutional investors in the Gulf Cooperation Council countries. This unique fund, developed in collaboration with digital asset firm ARP Digital, provides investors in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE with an opportunity to gain exposure to Bitcoin’s potential gains while ensuring 100% protection against losses.
Abdullah Kanoo, co-founder, and co-CEO of ARP Digital, expressed excitement about this new investment avenue, stating, “This structured investment opens new doors for investors seeking a calculated approach to digital assets. 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 within a highly secure framework.”
Bahrain’s proactive efforts to establish an innovation-friendly crypto and fintech ecosystem have been instrumental in attracting more digital assets businesses to the region. Regulatory advancements in Bahrain and the UAE have paved the way for companies like Crypto.com to operate in the region, joining existing players like Binance and BitOasis.
The Middle East and North Africa region (MENA) has seen a significant increase in cryptocurrency transaction volume, with institutional and professional investors driving the majority of transactions. This growing interest in digital assets underscores the region’s potential as a hub for cryptocurrency activities.
As regulatory frameworks continue to evolve in the region, the possibilities for digital assets and blockchain technology are expanding rapidly. With the introduction of the National Bank of Bahrain’s Bitcoin investment fund, institutional investors in the Gulf region now have a secure and regulated way to explore the world of cryptocurrencies. Stay tuned for more updates on the evolving crypto landscape in the Middle East and beyond.
