National Bank of Bahrain unveils first Bitcoin-linked investment product in GCC region

adminOctober 9, 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 product, which aims to capture Bitcoin’s growth potential while mitigating risk, was developed in partnership with digital asset company ARP Digital.

National Bank of Bahrain launches GCC’s first Bitcoin-linked investment fund

Announced at the Fintech Forward 2024 event, the product is designed exclusively for accredited investors and offers a new way to diversify your portfolio. The fund is structured to provide investors with capital protection in the event of a downtrend while allowing them to benefit from Bitcoin price appreciation up to a predefined limit. The investment structure makes it an attractive option for those who want exposure to Bitcoin’s growth while maintaining a degree of safety.

Hisham AlKurdi, Group CEO of NBB, emphasized that the new product is in line with the bank’s commitment to providing innovative solutions to its customers. “This product highlights our focus on providing wealth management clients with innovative and safe ways to diversify their portfolios in the evolving investment environment,” he said. His statement highlights NBB’s continued leadership in financial innovation in the GCC region.

Designed as a strategic investment tool, the fund also serves as a strong hedge against the inherent volatility that characterizes cryptocurrency markets. As ARP Digital co-founder and co-CEO Abdulla Kanoo said, investors can participate in Bitcoin’s long-term growth trajectory within a secure framework. “This structured investment opens new doors for investors seeking a calculated approach to digital assets,” said Kanoo.

This development follows a series of developments in Bahrain’s rapidly expanding cryptocurrency market in the Middle East and North Africa (MENA) region. Last April, ARP Digital secured an operating license from the NBB, strengthening its ability to offer a range of services such as cryptocurrency trading, custody and portfolio management. The company was co-founded by a former Goldman Sachs partner, further strengthening its strong financial foundation.

Structured Bitcoin-linked investment products are available to investors in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. This wide availability reflects NBB’s ambition to serve a diverse range of markets within the GCC region.

Bahrain Steps Up Crypto Game with New Licenses and Investment Options

The announcement of this new fund coincides with another significant development in Bahrain’s cryptocurrency industry. Just a few weeks ago, the Central Bank of Bahrain granted Crypto.com a payment services provider license, allowing the platform to expand its range of cryptocurrency- and fiat-based payment services across the region. The 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 on cryptocurrency market regulation has played an important role in attracting domestic and foreign cryptocurrency companies. According to a recent Chainalytic report, the MENA region accounted for 7.5% of global cryptocurrency trading volume from July 2023 to June 2024. Bahrain’s structured regulatory environment makes it an attractive destination for companies looking to capitalize on growing digital demand. It is a local asset.

The launch of NBB’s Bitcoin-linked structured investment product is a significant milestone for the GCC. This is because this product is the first of its kind to be offered in this region. 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 launched a Bitcoin investment product that will be available “exclusively to accredited investors.”#Bitcoin #NBB #investment fundhttps://t.co/NlKyXMPaBj
— Cryptonews.com (@cryptonews) October 8, 2024

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