National Bank of Bahrain Unveils First Bitcoin-Linked Investment Product in GCC Region

On Oct 8, 2024

The National Bank of Bahrain (NBB) has introduced a new investment opportunity, marking the launch of the first Bitcoin-linked Structured Investment product in the Gulf Cooperation Council (GCC) region. This unique offering, which aims to capture the growth potential of Bitcoin while mitigating risks, was developed in collaboration with ARP Digital, a digital asset firm.

National Bank of Bahrain Rolls Out GCC’s First Bitcoin-Linked Investment Fund

Announced at the Fintech Forward 2024 event, the product is designed exclusively for accredited investors, providing them with a novel way to diversify their portfolios. The fund is structured to offer investors capital protection in the event of a downward trend, while simultaneously allowing them to benefit from Bitcoin’s price appreciation, up to a predefined cap. The structure of the investment makes it an attractive option for those seeking exposure to Bitcoin’s growth while maintaining a degree of safety.

Hisham AlKurdi, the Group Chief Executive at NBB, emphasized that the new product aligns with the bank’s commitment to delivering innovative solutions for its clients. He noted, “This product underscores our focus on offering our wealth management clients innovative and secure avenues to diversify their portfolios in an evolving investment landscape.” His statement highlights NBB’s ongoing leadership in financial innovation within the GCC region.

The fund, which is designed as a strategic investment tool, also acts as a powerful hedge against the inherent volatility that characterizes the cryptocurrency market. Investors can engage with Bitcoin’s long-term growth trajectory within a secure framework, as stated by Abdulla Kanoo, co-founder and co-CEO of ARP Digital. Kanoo remarked, “This structured investment opens new doors for investors seeking a calculated approach to digital assets.”

This development follows a series of advancements in the Bahraini crypto market, which has been expanding rapidly in the Middle East and North Africa (MENA) region. In April, ARP Digital secured an operational license from NBB, enhancing its ability to offer a range of services such as cryptocurrency trading, custody, and portfolio management. The firm was co-founded by a former Goldman Sachs partner, further underscoring its strong financial foundation.

The structured Bitcoin-linked investment product will be accessible to investors in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. This broad availability reflects NBB’s ambition to cater to a diverse range of markets within the GCC region.

Bahrain Boosts Its Crypto Game with New Licenses and Investment Options

The announcement of this new fund coincides with another significant development in Bahrain’s crypto space. Just a few weeks prior, the Central Bank of Bahrain granted a payment service provider license to Crypto.com, enabling the platform to expand its range of e-money and fiat-based payment services across the region. This move is seen as part of Bahrain’s broader strategy to establish itself as a leading hub for cryptocurrency and digital finance.

Bahrain’s proactive stance in regulating the crypto market has been instrumental in attracting both domestic and international crypto firms. According to a recent Chainalysis report, the MENA region accounted for 7.5% of the global cryptocurrency transaction volume between July 2023 and June 2024. Bahrain’s well-structured regulatory environment has made it an attractive destination for companies looking to tap into the growing demand for digital assets in the region.

The launch of NBB’s Bitcoin-linked Structured Investment product is a significant milestone for the GCC, as it represents the first offering of its kind in the area. By integrating innovative investment strategies with the evolving digital asset landscape, the National Bank of Bahrain continues to position itself as a forward-thinking leader in the financial sector.

💸 @NBBOnline has introduced Bitcoin investment product, which will be available “exclusively for accredited investors.”#Bitcoin #NBB #InvestmentFundhttps://t.co/NlKyXMPaBj
— Cryptonews.com (@cryptonews) October 8, 2024

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