Opennode is a bitcoin payment infrastructure company that recently announced it would test its bitcoin processing and payout solution using the Central Bank of Bahrain's regulatory Sandbox. Dalal Buhejji is an executive director at the Bahrain Economic Development Board. The central bank's regulatory sandbox allows fintechs to continue to innovate and follow best regulatory practices, according to Buhejji.
Supporting the Growth of Bahrain's Economy
Opennode, a bitcoin payment infrastructure company has stated that it will "test a Bitcoin payment processing and payments solution via the Central Bank of Bahrain(CBB) regulatory platform." The company also said that the infrastructure it will provide will help Bahrain "grow their economy and will demonstrate why Bitcoin is synonymous to better business."
Opennode has been authorized by the CBB to test its crypto payment solution on Bahraini soil. Dalal Buhejji (executive director, Bahrain Economic Development Board) commented on Opennode’s authorization to conduct trials:
"We are proud that we have collaborated with the Central Bank to establish a strong financial services sector in the Kingdom of Bahrain. We have been ahead of the curve when it comes to adopting Fintech solutions as a country thanks to our regulator's flexibility.
Buhejji said that the CBB's Sandbox allows Bahrain fintechs to continue innovating while following best regulatory practices.
The Bitcoin Standard:
Afnan Rahman (CEO and co-founder) of Opennode described the company's planned tests not only as a watershed for Bahrain, but for the entire Middle East.
The CEO stated that Opennode's top-of-the-line Bitcoin infrastructure solution continues to make it possible for governments, countries and other reputable financial institutions worldwide to adopt the Bitcoin standard to transact on the lightning networks.
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By: Terence Zimwara
Title: Crypto Payment Infrastructure Firm Opennode to Test Bitcoin Payments in Bahrain
Sourced From: news.bitcoin.com/crypto-payment-infrastructure-firm-opennode-to-test-bitcoin-payments-in-bahrain/
Published Date: Sun, 18 Sep 2022 05:30:42 +0000