OpenNode believes the move is a 'watershed moment for the people of Bahrain, the Middle East, and the Bitcoin economy as a whole.'
OpenNode believes the move is a “watershed moment for the people of Bahrain, the Middle East, and the Bitcoin economy as a whole.”
The Central Bank of Bahrain is set to test a Bitcoin payment processing and payout solution in collaboration with OpenNode., the BTC payment processor plans to provide the infrastructure for the solution. The Regulatory Sandbox was first launched in 2017, following which the CBB authorized OpenNode to participate in its framework that enables financial tech companies to test their ideas and solutions in the country.“OpenNode’s leading Bitcoin infrastructure solution continues to pave the way for countries, governments, and reputable financial institutions to adopt the Bitcoin standard and transact on the lightning network.
After a decade of reluctance, several Gulf states, including Bahrain, have started to warm up to cryptocurrencies. The kingdom is also looking to attract centralized crypto exchanges. As such, one of the world’s leading platforms – Binance – wasAs reported earlier, Bahrain became the first country in the Middle East where Binance received a green light to offer fully regulated services through the Cooperation Council for the Arab States of the Gulf .
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