Ripple, the company behind the XRP
$2.51
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.
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