Crypto Payment Infrastructure Firm Opennode to Test Bitcoin Payments in Bahrain

Opennode, a bitcoin outgo infrastructure firm, precocious said it volition tally trials of its bitcoin processing and payout solution done the Central Bank of Bahrain’s regulatory sandbox. According to Dalal Buhejji, an enforcement manager with the Bahrain Economic Development Board, the cardinal bank’s sandbox helps to guarantee that fintechs volition proceed to innovate and adhere to champion regulatory practices.

Helping Grow Bahrain’s Economy

A bitcoin outgo infrastructure company, Opennode, has said it intends to “test a bitcoin outgo processing and payouts solution via the Central Bank of Bahrain (CBB) regulatory sandbox.” In a statement, the institution said the infrastructure which it plans to supply volition assistance Bahrain “grow its system and volition showcase wherefore Bitcoin is synonymous with amended business.”

Through the CBB’s regulatory sandbox, Opennode is authorized to transportation retired tests of its crypto outgo solution wrong Bahrain’s territory. Commenting connected the cardinal bank’s determination to authorize Opennode’s trials, Dalal Buhejji, an enforcement manager astatine the Bahrain Economic Development Board said:

“We are arrogant to person worked with the Central Bank towards establishing a beardown fiscal services ecosystem wrong the Kingdom of Bahrain. As a country, we person ever been up of the curve successful adopting Fintech solutions acknowledgment to our regulator’s flexibility and guardant thinking.”

Buhejji added that the CBB’s sandbox helps to guarantee Bahrain fintechs volition proceed to innovate portion adhering to champion regulatory practices.

Adopting the Bitcoin Standard

For his part, Afnan Rahman, CEO and co-founder of Opennode, described his company’s planned tests arsenic a watershed not conscionable for Bahrain but the full Middle East.

“Opennode’s starring Bitcoin infrastructure solution continues to pave the mode for countries, governments and reputable fiscal institutions to follow the Bitcoin modular and transact connected the lightning network,” explained the CEO.

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