National Bank of Bahrain unveils first Bitcoin-linked investment product in GCC region
The National Bank of Bahrain (NBB) has introduced a new investment opportunity, marking the launch of the first Bitcoin-linked structured investment product in the Gulf Cooperation Council (GCC) region. This unique product, which aims to capture Bitcoin’s growth potential while mitigating risk, was developed in partnership with digital asset company ARP Digital.
National Bank of Bahrain launches GCC’s first Bitcoin-linked investment fund
Announced at the Fintech Forward 2024 event, the product is designed exclusively for accredited investors and offers a new way to diversify your portfolio. The fund is structured to provide investors with capital protection in the event of a downtrend while allowing them to benefit from Bitcoin price appreciation up to a predefined limit. The investment structure makes it an attractive option for those who want exposure to Bitcoin’s growth while maintaining a degree of safety.
Hisham AlKurdi, Group CEO of NBB, emphasized that the new product is in line with the bank’s commitment to providing innovative solutions to its customers. “This product highlights our focus on providing wealth management clients with innovative and safe ways to diversify their portfolios in the evolving investment environment,” he said. His statement highlights NBB’s continued leadership in financial innovation in the GCC region.
Designed as a strategic investment tool, the fund also serves as a strong hedge against the inherent volatility that characterizes cryptocurrency markets. As ARP Digital co-founder and co-CEO Abdulla Kanoo said, investors can participate in Bitcoin’s long-term growth trajectory within a secure framework. “This structured investment opens new doors for investors seeking a calculated approach to digital assets,” said Kanoo.
This development follows a series of developments in Bahrain’s rapidly expanding cryptocurrency market in the Middle East and North Africa (MENA) region. Last April, ARP Digital secured an operating license from the NBB, strengthening its ability to offer a range of services such as cryptocurrency trading, custody and portfolio management. The company was co-founded by a former Goldman Sachs partner, further strengthening its strong financial foundation.
Structured Bitcoin-linked investment products are available to investors in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. This wide availability reflects NBB’s ambition to serve a diverse range of markets within the GCC region.
Bahrain Steps Up Crypto Game with New Licenses and Investment Options
The announcement of this new fund coincides with another significant development in Bahrain’s cryptocurrency industry. Just a few weeks ago, the Central Bank of Bahrain granted Crypto.com a payment services provider license, allowing the platform to expand its range of cryptocurrency- and fiat-based payment services across the region. The move is seen as part of Bahrain’s broader strategy to establish itself as a leading hub for cryptocurrency and digital finance.
Bahrain’s proactive stance on cryptocurrency market regulation has played an important role in attracting domestic and foreign cryptocurrency companies. According to a recent Chainalytic report, the MENA region accounted for 7.5% of global cryptocurrency trading volume from July 2023 to June 2024. Bahrain’s structured regulatory environment makes it an attractive destination for companies looking to capitalize on growing digital demand. It is a local asset.
The launch of NBB’s Bitcoin-linked structured investment product is a significant milestone for the GCC. This is because this product is the first of its kind to be offered in this region. By integrating innovative investment strategies with the evolving digital asset landscape, the National Bank of Bahrain continues to position itself as a forward-thinking leader in the financial sector.
💸 @NBBOnline has launched a Bitcoin investment product that will be available “exclusively to accredited investors.”#Bitcoin #NBB #investment fundhttps://t.co/NlKyXMPaBj
— Cryptonews.com (@cryptonews) October 8, 2024
Flockerz: Leading meme-based DAO cryptocurrency pre-sale project
Flockerz has established itself in a strong position as one of the standout cryptocurrency presales this year, and is distinguished by its clever approach to promoting decentralization within the wider cryptocurrency community. Its appeal lies in its combination of unique concept, humorous style and significant user involvement, all of which contribute to its growing popularity.
At the core of the project is FlockTopia, a decentralized autonomous organization (DAO) structured around a compelling narrative. This legend describes a king who once ruled a cryptocurrency kingdom. However, as chaos swept through his kingdom, the king decided to relinquish his authority and distribute his power among his subjects, allowing them wider participation in trading activities. This backstory serves as the foundation for the project’s emphasis on collective decision-making and the empowerment of community members.
FlockTopia operates on a vote-to-revenue system, which is a defining feature of the Flockerz ecosystem. This mechanism allows investors to actively influence the future development of a project through voting, while also earning rewards for their participation. This model not only fosters deeper community involvement, but also provides incentives for long-term commitment to the project. The voting-return component is complemented by staking opportunities, making Flockerz an attractive option for investors seeking both short-term and long-term profits.
Flockerz’s aesthetic is equally noteworthy. The token features a flock of lazy-eyed hens all gathered around a central figure, the King, symbolizing anxious anticipation of market movements. The visual design humorously captures the psychology of investors watching ever-changing market trends and emphasizes the desire for profitable results regardless of the investment period.
In essence, Flockerz has distinguished itself as a leading cryptocurrency presale by successfully combining witty storytelling, a strong community-driven structure, and engaging mechanics. Its unique approach to fostering a decentralized trading ecosystem has garnered significant attention and has established it as a project to watch in the evolving cryptocurrency space.
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