OpenNode sets up BTC payment infrastructure in Bank of Bahrain regulatory sandbox
infrastructure provider OpenNode will test a Bitcoin payment processing and payouts solution in the Central Bank of Bahrain’s (CBB) regulatory sandbox, the company announced Sept. 13. This is the latest of several steps the kingdom has taken to join the crypto economy both on its own and as a member of the Cooperation Council for the Arab States of the Gulf (GCC).
OpenNode will provide the first Bitcoin (BTC) infrastructure in Bahrain, although the Gulf island nation has been luring fintech companies to its shores for the past several years as it transitions away from an petroleum-based economy. OpenNode CEO and cofounder Afnan Rahman called the agreement with the CBB, “a watershed moment for the people of Bahrain, the Middle East and the Bitcoin economy as a whole.”
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