2 years ago
Using the cardinal bank’s fintech integer sandbox to proceedings bitcoin outgo solutions, OpenNode volition bring BTC payments to the land kingdom for the archetypal time.
- OpenNode is trialing a scalable bitcoin payments solution with the Central Bank of Bahrain.
- The cardinal slope has a sandbox exertion wherever payments tin beryllium tested, specifically designed for fintech solutions.
- OpenNode intends to showcase Bitcoin’s quality to fortify the Bahrain system and amusement wherefore Bitcoin is synonymous with bully business.
OpenNode, a Bitcoin and Lightning Network infrastructure provider, is investigating a bitcoin outgo solution for the Central Bank of Bahrain (CBB), per a press release.
The CBB’s Regulatory Sandbox volition supply the indispensable proving grounds to trial bitcoin payments successful the region, which until present person been non-existent according to the release.
The investigating crushed was initially launched successful 2017 to further heighten the country’s fintech ecosystem. In 2021, the sandbox was expanded to absorption connected creating a much divers integer economy.
The tiny land state has utilized this capableness for investigating caller innovations to proceedings caller fintech solutions, arsenic noted by the enforcement manager for Investment Development for Financial Services astatine the Bahrain Economic Development Board, Dalal Buhejji.
“We are arrogant to person worked with the Central Bank towards establishing a beardown fiscal services ecosystem wrong the Kingdom of Bahrain,” said Buhejji.
During the investigating phase, OpenNode intends to amusement the cardinal slope that Bitcoin has the capableness to grow the Bahrain system by strengthening businesses successful the region.
"This is simply a watershed infinitesimal for the radical of Bahrain, the Middle East and the Bitcoin system arsenic a whole,” said Afnan Rahman, CEO and co-founder of OpenNode.
Additionally, OpenNode stated that this is the archetypal announcement of galore that volition beryllium coming from the region. Currently, OpenNode’s infrastructure is progressive successful implicit 160 countries crossed the globe.
“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," Rahman concluded.
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