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OpenNode plans to test a solution for processing payments and payments in bitcoins through the sandbox of the Central Bank of Bahrain. Until now, payments in bitcoins have not been practiced in the island nation, but interest in bitcoin in the Middle East is certainly growing.
OpenNode is preparing to provide the appropriate infrastructure to help the country develop its economy and demonstrate why bitcoin can be considered synonymous with better business.
Bahrain is widely known as a country that has developed a post-oil economy in the Gulf countries through investment in tourism and banking. In 2017, the country’s Central Bank launched a “Regulatory Sandbox” to develop the country’s fintech ecosystem and expanded it in 2021 to transition to a more diversified digital economy.
By implementing an infrastructure for bitcoin-based transactions, OpenNode intends to introduce payment innovations in Bahrain.
This is a watershed moment for the people of Bahrain, the Middle East and the bitcoin-based economy as a whole.
OpenNode’s leading bitcoin infrastructure solution continues to pave the way for countries, governments and reputable financial institutions to adopt the bitcoin standard and transactions on the Lightning Network, said OpenNode CEO and co-founder Afnan Rahman.
Currently, OpenNode, the world’s leading infrastructure company “Bitcoin as a Payment Network”, operates in more than 160 countries around the world.
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