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Gungun Bhatia
Sep 14, 2022
by Gungun Bhatia

OpenNode Tests Bitcoin Payments in Bank of Bahrain Regulatory Sandbox

Bitcoin Payments Bank of Bahrain

Table of contents

  1. OpenNode To Offer First Bitcoin Network
  2. Dubai - Crypto-Advanced Country
  3. Bitcoin As A Payment Network
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 the regional cryptocurrency exchange CoinMENA in 2021.

Bitcoin As A Payment Network

OpenNode is the leading prominent "Bitcoin as a Payment Network" infrastructure, serving businesses in more than 160 countries with cutting-edge Lightning Network-powered BTC solutions. By offering state-of-the-art technological solutions, such as simple no-code hosted checkouts, e-commerce plug-ins, and APIs for customizable integrations.

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Bitcoin (BTC) OpenNode Central Bank of Bahrain (CBB)
OpenNode Tests Bitcoin Payments in Bank of Bahrain Regulatory Sandbox
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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