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Ripple Taps Bahrain Fintech Bay to Launch RLUSD and Custody Tools

Key Takeaways

  • ​Ripple has partnered with Bahrain Fintech Bay to support the country’s digital finance efforts, including pilots in stablecoins and tokenization;
  • The company plans to introduce its RLUSD stablecoin and digital asset custody services to Bahrain’s banks and financial firms;
  • BFB aims to connect global firms like Ripple with the local financial ecosystem for innovation and growth.​

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Ripple Taps Bahrain Fintech Bay to Launch RLUSD and Custody Tools

Ripple, the company behind the XRP XRP $2.73 token, has entered into a partnership with Bahrain Fintech Bay (BFB).

The agreement, announced on October 9, brings together Ripple and BFB to work on improving Bahrain’s digital finance framework.

Their efforts will include testing new ideas and launching trial programs in areas such as cross-border money transfers, stable digital currencies, and asset tokenization.

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Ripple’s regional head, Reece Merrick, stated that the company plans to introduce both its digital asset custody service and its US dollar-backed stablecoin, RLUSD, to banks and other financial entities in Bahrain. These tools are meant to support secure asset management and enable stable, blockchain-based transactions.

Suzy Al Zeerah, BFB’s chief operating officer, highlighted Bahrain’s reputation as a long-standing financial center. She noted that the partnership with Ripple will help bring international financial technology into the local market.

BFB, established in 2018, plays a central role in Bahrain’s fintech ecosystem. It was created through a joint effort involving the Bahrain Economic Development Board and the FinTech Consortium.

Since its founding, BFB has worked closely with the Central Bank of Bahrain (CBB) to support the adoption of financial innovations.

Recently, Jupiter, a decentralized exchange (DEX), and Ethena Labs announced plans to launch JupUSD. What is it? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
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