Crypto Payment Infrastructure Firm Opennode to Test Bitcoin Payments in Bahrain – Fintech Bitcoin News


Opennode, a bitcoin payment infrastructure company, recently said it will test its bitcoin processing and payment solution through the regulatory sandbox of the Central Bank of Bahrain. According to Dalal Buhejji, executive director of the Bahrain Economic Development Authority, the central bank’s sandbox helps ensure that fintechs continue to innovate and adhere to regulatory best practices.

Helping Grow Bahrain’s Economy

Bitcoin payment infrastructure company Opennode said it intends to “test a bitcoin processing and payment solution through the Central Bank of Bahrain’s (CBB) regulatory sandbox. In a statement, the company said the infrastructure it plans to provide, will help Bahrain “grow its economy and show why Bitcoin is synonymous with better business.”

Through the CBB’s regulatory sandbox, Opennode is authorized to conduct tests of its crypto payment solution within the territory of Bahrain. Commenting on the central bank’s decision to authorize Opennode’s trials, Dalal Buhejji, executive director of the Bahrain Economic Development Authority, said:

“We are proud to work with the Central Bank to establish a strong financial ecosystem within the Kingdom of Bahrain. As a country, we have always been ahead of the curve in adopting Fintech solutions thanks to the flexibility and forward thinking of our regulator.”

Buhejji added that the CBB sandbox helps ensure that Bahraini fintechs will continue to innovate while following regulatory best practices.

Adopting the Bitcoin Standard

For his part, Afnan Rahman, CEO and co-founder of Opennode, described his company’s planned tests as a watershed not only for Bahrain but the entire Middle East.

“Opennode’s leading Bitcoin infrastructure solution continues to pave the way for countries, governments and reputable financial institutions to adopt the Bitcoin standard and conduct transactions on the lightning network,” explained the CEO.

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Terence Zimwara

Terence Zimwara is a Zimbabwean award-winning journalist, author and writer. He has written extensively about the economic problems of some African countries and how digital currencies can provide Africans with an escape route.

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