ARP Digital, licensed by the Central Bank of Bahrain as a Category 3 Crypto-Asset Services Provider, announced the signing of a Memorandum of Understanding with Cairo Amman Bank – Jordan, to explore avenues of cooperation in developing and providing regulated over-the-counter (OTC) virtual asset conversion services in Jordan and Bahrain.
The collaboration aims to establish a regulated infrastructure that enables Cairo Amman Bank customers to seamlessly and securely convert and exchange fiat currencies into virtual assets and vice versa, in full compliance with the regulatory and supervisory frameworks in both Jordan and Bahrain.
The services will be officially launched following the issuance of the requirements and guidelines to be determined by the Central Bank of Jordan, which will be announced in due course.
Mr. Abdulaziz Kanoo, Co-Founder of ARP Digital, stated:
“This collaboration represents an important step toward bridging the traditional banking sector with the world of virtual assets. By combining ARP’s expertise in regulated OTC transactions with Cairo Amman Bank’s strong banking capabilities, we are creating a secure and compliant environment for the conversion between virtual assets and fiat currencies.”
Dr. Kamal Al-Bakri, CEO of Cairo Amman Bank, added:
“Innovation is a core part of our institutional strategy. This collaboration with ARP Digital enables us to lead the transformation toward establishing a regulated infrastructure for virtual asset conversion in Jordan.”
This milestone marks a new chapter in ARP Digital’s efforts to build regulated exchange networks that connect traditional financial institutions with the growing virtual asset ecosystem in a secure and compliant manner.
It also represents a key step in Cairo Amman Bank’s ongoing journey to enhance banking innovation by offering secure and compliant digital financial solutions that empower the virtual asset transformation and reinforce the bank’s position as a pioneering financial institution in the region.
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