National Bank of Bahrain introduces first Bitcoin-linked investment product in GCC region

The National Bank of Bahrain (NBB) has unveiled a new investment opportunity, marking the launch of the first bitcoin-linked structured investment product in the Gulf Cooperation Council (GCC) region. This unique offering, which aims to capture bitcoin's growth potential while mitigating risks, was developed in collaboration with ARP Digital, a digital asset company.

National Bank of Bahrain launches GCC's first bitcoin-linked investment fund

Announced at the Fintech Forward 2024 event, the product is designed exclusively for accredited investors, providing them with a novel way to diversify their portfolios. The fund is structured to offer investors capital protection in the event of a downtrend, while allowing them to benefit from bitcoin's price appreciation, up to a predefined limit. The investment structure makes it an attractive option for those seeking exposure to bitcoin growth while maintaining a certain degree of security.

Hisham AlKurdi, CEO of NBB Group, emphasized that the new product aligns with the bank's commitment to offering innovative solutions to its customers. He noted: “This product underscores our focus on offering our wealth management clients innovative and secure avenues to diversify their portfolios in an evolving investment landscape.” His statement highlights the NBB's continued leadership in financial innovation within the GCC region.

The fund, which is designed as a strategic investment tool, also acts as a powerful hedge against the inherent volatility that characterizes the cryptocurrency market. Investors can participate in bitcoin's long-term growth trajectory within a secure framework, says Abdulla Kanoo, co-founder and co-CEO of ARP Digital. Kanoo commented: “This structured investment opens new doors for investors looking for a calculated approach to digital assets.”

This development follows a series of developments in Bahrain's crypto market, which has been expanding rapidly in the Middle East and North Africa (MENA) region. In April, ARP Digital obtained an operating license from NBB, enhancing its ability to offer a range of services such as cryptocurrency trading, custody and portfolio management. The company was co-founded by a former Goldman Sachs partner, further underscoring its strong financial foundation.

The structured investment product linked to bitcoin will be accessible to investors in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. This wide availability reflects NBB's ambition to serve a wide range of markets within the GCC region.

Bahrain boosts its crypto game with new licenses and investment options

The announcement of this new fund coincides with another significant development in Bahrain's crypto space. Just a few weeks earlier, the Central Bank of Bahrain granted a payment service provider crypto.com/”>license for crypto.comallowing the platform to expand its range of e-money and fiat-based payment services across the region. This move is seen as part of Bahrain's broader strategy to establish itself as a leading hub for cryptocurrencies and digital finance.

Bahrain's proactive stance in regulating the cryptocurrency market has been instrumental in attracting both domestic and international cryptocurrency companies. According to a recent crypto-adoption-2024/”>Chainalysis Report, MENA Region Accounted for 7.5% of Global Cryptocurrency Transaction Volume between July 2023 and June 2024. Bahrain's well-structured regulatory environment has made it an attractive destination for companies looking to tap into the growing demand for digital assets in the region.

The launch of NBB's bitcoin-linked structured investment product is a significant milestone for the GCC as it represents the first offering of its kind in the area. By integrating innovative investment strategies with the evolving landscape of digital assets, National Bank of Bahrain continues to position itself as a forward-thinking leader in the financial sector.

twitter.com/NBBOnline?ref_src=twsrc%5Etfw”>@NBBOnline has introduced a bitcoin investment product, which will be available “exclusively to accredited investors.”twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin twitter.com/hashtag/NBB?src=hash&ref_src=twsrc%5Etfw”>#NBB twitter.com/hashtag/InvestmentFund?src=hash&ref_src=twsrc%5Etfw”>#InvestmentFundhttps://t.co/NlKyXMPaBj

– Criptonoticias.com (@cryptonews) twitter.com/cryptonews/status/1843551390741999960?ref_src=twsrc%5Etfw”>October 8, 2024

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