As a seasoned crypto investor with a decade of experience under my belt, this latest development from the National Bank of Bahrain (NBB) has piqued my interest significantly. Having navigated through numerous market cycles and witnessed the transformation of the digital asset landscape, I am particularly intrigued by this strategic partnership between NBB and ARP Digital.
The National Bank of Bahrain (NBB) has launched its initial Bitcoin investment fund, aimed at attracting institutional investors from countries within the Gulf Cooperation Council (GCC). These countries are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
Through collaboration with digital asset company ARP Digital, this investment vehicle provides opportunities for investors to gain limited profit potential from Bitcoin, while ensuring complete loss protection.
As reported by local news outlets, Abdulla Kanoo, who is both co-founder and co-CEO at ARP Digital, stated that their partnership with NBB has the potential to revolutionize the regional market. By combining ARP’s knowledge in digital assets and NBB’s broad influence in finance, they have developed a product that offers Bitcoin investment within a highly secure system.
Bahrain is actively making efforts to lure digital asset ventures, establishing a welcoming cryptocurrency climate with well-defined rules. As a result, firms such as Binance, Crypto.com, and BitOasis have chosen to establish their base in this nation.
Additionally, the United Arab Emirates is taking significant steps in the regulation of cryptocurrencies. In 2023, Dubai introduced a detailed regulatory framework through the Virtual Asset Regulatory Authority (VARA), which facilitates the smooth operation of Web3 companies dealing with digital currencies within the region.
Chainalysis reports that the Middle East and North Africa (MENA) region recorded approximately $338.7 billion worth of cryptocurrency transactions between July 2023 and June 2024. The majority of these transactions were conducted by institutional investors, with centralized exchanges leading the way. However, decentralized platforms are steadily growing in popularity, particularly in the UAE and Saudi Arabia.
With this fresh investment opportunity from NBB, regional financiers can explore a secure route to participate in Bitcoin investments within a controlled, regulated setting.
Read More
- Maiden Academy tier list
- Cookie Run Kingdom Town Square Vault password
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Girls Frontline 2 Exilium tier list
- 10 Hardest Bosses In The First Berserker: Khazan
- `H&M’s Wild White Lotus Getaway`
- ‘White Lotus’ Fans React to That Incest Kiss: “My Jaw Is On The Floor”
- ‘Bachelor’ Co-Executive Producers Exit Franchise
- Be Happy’s Abhishek Bachchan reveals how daughter Aaradhya gives him a reality check; says he did the same with dad Amitabh Bachchan
- Wizardry Variants Daphne tier list and a reroll guide
2024-10-08 08:52