OpenNode Tests Bitcoin Payments in Bank of Bahrain Regulatory Sandbox

OpenNode, a supplier of Bitcoin infrastructure, stated on September 13 that it would test a Bitcoin payment processing and payments solution in the regulatory sandbox of the Central Bank of Bahrain (CBB). The monarchy has made several efforts to enter the cryptocurrency economy independently and as a member of the Cooperation Council for the Arab States of the Gulf (GCC). OpenNode To Offer First Bitcoin Network OpenNode will provide the first Bitcoin (BTC) network in Bahrain, even though the Gulf island nation has been attracting fintech businesses to its borders for the last few years as it transforms away from a petroleum-based economy. The deal with the Central Bank of Bahrain was a historic moment for the people of Bahrain, the Middle East, and the Bitcoin economy, according to OpenNode CEO and cofounder Afnan Rahman. Dalal Buhejji, executive director of the Bahrain Economic Development Board’s Investment Development for Financial Services, offered the following response to the inclusion of OpenNode in the CBB sandbox: “As a country, we have always been ahead of the curve in adopting Fintech solutions thanks to our regulator’s flexibility and forward thinking.” Dubai – Crypto-Advanced Country Bahrain is unlikely to surpass Dubai as the region’s most crypto-advanced country. The Central Bank of Bahrain established a regulatory sandbox in 2017 and improved it in 2021. The island country in Western Asia granted a license to t...