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In a historic move, OpenNode is testing The Bitcoin payment infrastructure in Bahrain, the Regulatory Sandbox of the Central Bank of Bahrain.
LOS ANGELES, Sept. 13, 2022 /PRNewswire/ — As the first of many upcoming announcements from the region, OpenNode intends to test a solution for processing and paying bitcoin bills through the Central Bank of Bahrain’s (“CBB”) regulatory sandbox. Bitcoin bills did not exist in the past in the island nation, highlighting the growing interest in Bitcoin in the Middle East. OpenNode intends to provide the infrastructure to help the country expand its economy and will show why Bitcoin represents better deals.
Bahrain is considered to have evolved the GCC’s leading post-oil economy through investment in tourism and banking. economy. The CBB has allowed OpenNode to participate in the new Sandbox Regulatory Framework that allows FinTech corporations to verify their concepts and responses in the Kingdom.
By introducing the infrastructure for bitcoin-based transactions, OpenNode intends to bring payments innovation to Bahrain in what promises to be the beginning of something big.
“This is a watershed moment for the rest of the people of Bahrain, the Middle East and the Bitcoin economy as a whole. OpenNode’s leading Bitcoin infrastructure solution continues to pave the way for countries, governments, and accredited monetary establishments to adopt Bitcoin and transact on the Lightning Network,” said Afnan Rahman, CEO and co-founder of OpenNode.
OpenNode, the world leader in “Bitcoin as a payment network” infrastructure, is active lately in more than 160 countries around the world.
Commenting on the announcement, Dalal Buhejji, Executive Director of Investment Development for Financial Services at the Bahrain Economic Development Board, said: “We are proud to have worked with the Central Bank to identify a strong ecosystem of monetary facilities within the Kingdom of Bahrain. In countries, we have been at the forefront of adopting Fintech responses thanks to the flexibility and anticipation of our regulator.
Finance is a vital sector of our economy, and fintech platforms like the one soon to be tested through OpenNode are imperative to ensure we continue to innovate while adhering to the most productive regulatory measures. »
For media inquiries, please contact Tim Stuart at (818) 699-8193 or tim(at)opennode(dot)com.
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About OpenNode
OpenNode is the leading “Bitcoin as a Payment Network” infrastructure company, serving businesses in more than 160 countries through cutting-edge products powered through the Bitcoin Lightning Network. – Free turnkey hosted payments, ecommerce plugins, and APIs for traditional integrations. Compatible with all Bitcoin wallets, OpenNode transforms cash and invoices for all businesses, everywhere. attach the global with Bitcoin.
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