The National Bank of Bahrain (NBB) has partnered with APR Digital to launch the Gulf Cooperation Council’s (GCC) first Bitcoin-linked Structured investment. This fund will provide accredited investors exposure to the flagship crypto. Meanwhile, this is a huge boost to Bitcoin adoption in the country, with Bahrain currently one of the countries with the largest BTC holding.
National Bank Of Bahrain Launches Bitcoin Fund
The NBB has launched the first BTC investment fund in the GCC region, which consists of countries like Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, alongside Bahrain. According to the IBS intelligence report, the investment fund is designed to provide accredited investors with Bitcoin (BTC) exposure, providing a hedge against the devaluation of fiat currencies.
Speaking on this development, Hisham AlKurdi, Group Chief Executive, Markets & Client Solutions at the National Bank of Bahrain, said,
We are proud to introduce this bespoke structured investment, which blends the appeal of digital asset exposure with the security of capital protection. This product underscores our focus on offering our wealth management clients innovative and secure avenues to diversify their portfolios in an evolving investment landscape. It is a testament to NBB’s continued leadership in financial innovation within the region.
The launch of this Bitcoin investment fund aligns with the National Bank of Bahrain’s plans to increase its offerings to its wealth clients, especially investment offerings that boast a lot of growth potential. The Bank recognizes BTC’s potential to grow and become the most valued currency worldwide.
A Boost For Bitcoin Adoption In The Country
The National Bank Of Bahrain’s move to launch a Bitcoin investment fund is undoubtedly a major boost for Bitcoin adoption in the country. Bitcoin Treasuries data shows Bahrain is currently the fifth government with the largest BTC holding. The country currently holds 13,166 BTC ($844 million).
Unlike countries like the United States that have obtained their BTC holdings mainly through seizures, Bahrain has been actively accumulating the flagship crypto. The Central Bank of Bahrain (CBB) has also implemented a clear legal framework to promote the adoption of digital assets like Bitcoin in the country.
The CBB recently granted the crypto exchange Crypto.com a payment service license in the country, with Crypto.com now providing crypto services to Bahraini users alongside the best crypto exchanges in Bahrain.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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