Ripple has announced a strategic partnership with Bahrain Fintech Bay (BFB), the Kingdom’s fintech incubator and ecosystem builder.

The collaboration aims to advance the development and adoption of blockchain and digital asset technologies in Bahrain.

Under the agreement, Ripple and BFB will support the country’s digital asset ecosystem through initiatives such as developing proofs of concept and pilot projects, showcasing solutions in blockchain, cross-border payments, digital assets, stablecoins, and tokenisation, as well as conducting educational and accelerator programmes.

Both organisations will also participate in local fintech events to encourage partnerships and innovation.

“The Kingdom of Bahrain has emerged as an early adopter of blockchain technology and was one of the first jurisdictions globally to regulate crypto assets,”

said Reece Merrick, Managing Director, Middle East and Africa at Ripple.

“We look forward to working with Bahrain FinTech Bay to continue building the foundations for a local blockchain industry and, in time, to offer our digital asset custody solution and stablecoin, Ripple USD (RLUSD), to Bahrain’s financial institutions.”

“Bahrain has long been recognised as a financial services hub, and this legacy is now being extended to digital assets and blockchain,”

said Suzy Al Zeerah, Chief Operating Officer at Bahrain Fintech Bay.

“Our partnership with Ripple reflects our commitment to connecting global innovators with the local ecosystem, supporting pilot projects, talent development, and new financial technologies.”

Featured image credit: Ripple