Lawrence Damilola
The National Bank of Bahrain (NBB) has introduced the first Bitcoin-linked structured investment in the Gulf Cooperation Council (GCC) region.
This product was launched in collaboration with ARP Digital, a digital asset firm, and was announced during the Fintech Forward 2024 event, according to local media. The investment product is available exclusively for accredited investors across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
The Bitcoin-linked structured investment offers exposure to Bitcoin’s growth, with returns capped at a predefined threshold. Investors are also provided with 100% capital protection in case of a downward trend, offering a secure option for accredited investors seeking exposure to Bitcoin.
ARP Digital, co-founded by a former Goldman Sachs partner, partnered with NBB to develop this investment product. The firm, which offers services such as crypto trading, custody, and portfolio management, received an operational license from NBB in April. Abdulla Kanoo, co-founder and co-CEO of ARP Digital, said the product provides Bitcoin exposure “within a highly secure framework” and caters to investors looking for a structured and calculated approach to digital assets.
The introduction of this investment product marks a notable development in the GCC region’s financial landscape. The market now offers new options for investors to diversify their portfolios with exposure to Bitcoin, while benefiting from secure capital protection measures.
Bahrain Crypto Expansion
The National Bank of Bahrain’s product launch follows the broader trend of Bahrain becoming a crypto hub in the Middle East. The Bahrain Central Bank recently granted a payment service provider license to Crypto.com so it can start offering e-money and fiat-based payment services. Major crypto exchanges like Binance and BitOasis are also operating in the country under local licenses.
According to a Chainalysis report, the Middle East and North Africa (MENA) region accounted for 7.5% of global cryptocurrency transaction volume between July 2023 and June 2024. The majority of transactions in the region were conducted by institutional and professional investors, with centralized exchanges handling most of the volume.
With the launch of its Bitcoin-linked investment product, the National Bank of Bahrain continues to expand its offerings, further contributing to the country’s role in the MENA region’s growing crypto ecosystem.
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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
