The Kingdom of Bahrain is strengthening its position as a regional hub for financial innovation through a new strategic partnership between Bahrain Fintech Bay (BFB), the nation’s leading fintech incubator, and global crypto solutions company Ripple. The collaboration is set to accelerate the development and adoption of blockchain and digital asset technologies across the country.
A Strategic Push for Digital Asset Adoption
Under the new agreement, Ripple and BFB will spearhead several initiatives designed to build a robust digital asset ecosystem. The partnership will focus on developing proofs of concept and pilot projects that showcase practical solutions in blockchain, cross-border payments, digital assets, stablecoins, and tokenisation. This hands-on approach aims to drive tangible progress and demonstrate the real-world value of these emerging technologies for Bahrain’s financial sector.
Fostering Local Innovation and Talent
A key component of the collaboration involves nurturing local talent and fostering innovation. Both organisations plan to launch joint educational and accelerator programmes tailored to the needs of the Bahraini market. Furthermore, they will actively participate in local fintech events, creating platforms to encourage new partnerships and drive innovation within the ecosystem. As Suzy Al Zeerah, Chief Operating Officer at Bahrain Fintech Bay, noted, “Our partnership with Ripple reflects our commitment to connecting global innovators with the local ecosystem, supporting pilot projects, talent development, and new financial technologies.”
Ripple Eyes Bahrain for Regional Expansion
The partnership also signals Ripple’s deepening commitment to the Middle East. Bahrain’s progressive regulatory environment has made it an attractive market for global blockchain firms. Reece Merrick, Managing Director for the Middle East and Africa at Ripple, highlighted this, stating, “The Kingdom of Bahrain has emerged as an early adopter of blockchain technology and was one of the first jurisdictions globally to regulate crypto assets.” Merrick added that Ripple plans to build on this foundation and eventually offer its digital asset custody solution and its new stablecoin, Ripple USD (RLUSD), to financial institutions in Bahrain.
About Bahrain Fintech Bay
Bahrain Fintech Bay (BFB) is a leading fintech hub in the Middle East, serving as an incubator, accelerator, and ecosystem builder. It aims to foster innovation and collaboration between financial institutions, startups, corporates, government bodies, and universities to drive the development of the fintech industry in Bahrain and the broader region.
Source: Fintech News Middle East
