Ripple Enters Bahrain’s Digital Asset Market
Ripple, the blockchain company behind XRP, is expanding its operations in Bahrain via a strategic partnership with Bahrain Fintech Bay (BFB), a key fintech hub that collaborates closely with the Central Bank of Bahrain (CBB).
The partnership focuses on developing Bahrain’s digital asset ecosystem through pilot programs and fintech initiatives. Core areas include:
- Cross-border payments
- Stablecoins
- Tokenization
- Enterprise digital finance solutions
Reece Merrick, Ripple Middle East MD, highlighted that the company’s custody solutions and Ripple USD (RLUSD) will be offered to local banks, enhancing the kingdom’s financial infrastructure.
Bahrain’s Growing Fintech Ecosystem
Founded in 2018, Bahrain Fintech Bay (BFB) is a fintech hub based in Manama, designed to bridge public-private partnerships among the Bahrain Economic Development Board, the FinTech Consortium, and government agencies.
BFB works with the Central Bank of Bahrain (CBB) to shape regulations and support fintech innovation. Tariq Mattar and other BFB executives attend international forums, such as the Bahraini-Emirati Business Forum, to highlight Bahrain’s digital finance ambitions.
Suzy Al Zeerah, BFB COO, stated that the Ripple partnership underscores BFB’s commitment to connecting global innovators with Bahrain’s fintech ecosystem, supporting pilots, talent development, and financial innovation.
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Stablecoin Innovation in Bahrain
Bahrain’s monetary authority allows issuance of fiat-collateralized stablecoins, including BHD and USD-pegged currencies. The regulatory framework established in July enables licensed stablecoin issuers to operate securely, fostering a robust environment for innovation.
Ripple’s regulated RLUSD stablecoin leverages this framework to provide digital asset solutions for banks and financial institutions in Bahrain. Ripple now operates in over 60 jurisdictions globally, highlighting its international expansion strategy.
Ripple’s Strategic Global Growth
Ripple’s Bahrain partnership illustrates its strategy of collaborating with government-backed fintech centers to promote regulated digital finance adoption.
This development coincides with BNB surpassing XRP in market capitalization, making XRP the fifth-largest cryptocurrency globally. Despite this, Ripple’s focus on stablecoins and enterprise-grade solutions reinforces its ongoing role in advancing cross-border payments and blockchain integration.
